221 AUTHORITY TO ACCEPT NEGOTIABLE ORDER OF WITHDRAWAL ACCOUNTS
a. The applicant TB must have complied with the minimum capital required under Sec. 121.
b. It has neither unpaid assessment due nor past due obligations with the PDIC.
a. Submission of a certification signed by the president/chairman of the board of the bank stating that the requirements enumerated in this Section on Prerequisites to accept negotiable order of withdrawal accounts for thrift banks/rural banks/cooperative banks have been complied with up to the day before the NOW account services are actually offered/extended to the public; and
b. That it has complied with all other conditions that the Bangko Sentral may impose.
a. On the bank
b. On the certifying officer