Article 166

Forging treasury or bank notes or other documents payable to bearer; importing, and uttering such false or forged notes and documents.

-The forging or falsification of treasury or bank notes or certificates or other obligations and securities payable to bearer and the importation and uttering in connivance with forgers or importers of such false or forged obligations or notes, shall be punished as follows:

1. By reclusion temporal in its minimum period and a fine not to exceed 10,000 pesos, if the document which has been falsified, counterfeited, or altered is an obligation or security of the United States or of the Philippine Islands.

The words "obligation or security of the United States or of the Philippine Islands" shall be held to mean all bonds, certificates of indebtedness, national bank notes, coupons, United States or Philippine Islands notes, treasury notes, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the United States or of the Philippine Islands, and other representatives of value, of whatever denomination, which have been or may be issued under any act of the Congress of the United States or the Philippine Legislature.

2. By prision mayor in its maximum period and a fine not to exceed 5,000 pesos, if the falsified or altered document is a circulating note issued by any banking association duly authorized by law to issue the same.

3. By prision mayor in its medium period and a fine not to exceed 5,000 pesos, if the falsified or counterfeited document was issued by a foreign government.

4. By prision mayor in its minimum period and a fine not to exceed 2,000 pesos, when the forged or altered document is a circulating note or bill issued by a foreign bank duly authorized therefor.