REPUBLIC ACT NO. 4421
AN ACT TO FURTHER AMEND THE REVISED ELECTION CODE, AS AMENDED
Section 1. The Revised Election Code as amended, is further amended by inserting a new section, to be known as Sec. thirty-six-A, between Sections thirty-six and thirty-seven thereof, which shall read as follows:
"Sec. 36-A. Posting of bond by candidates; exception; forfeiture. All candidates for national, provincial, city and municipal offices shall post a surety bond equivalent to the one-year salary or emoluments of the position to which he is a candidate, which bond shall be forfeited in favor of the national, provincial, city or municipal government concerned if the candidate, except when declared the winner, fails to obtain at least ten percent of the votes cast for the office to which he has filed his certificates of candidacy there being not more than four candidates for the same office."
Sec. 2. This Act shall take upon its approval.
Approved: June 19, 1965