Closure

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1. Who may summarily forbid a bank from doing business under section 30 upon the statutory report and findings?
2. Does section 30 require a prior hearing before the specified summary prohibition on business?
3. Which dormant period is expressly included in amended section 30(a)?
4. A bank has insufficient realizable assets to meet its liabilities, as determined by BSP on the proper report. Must regu…
5. A bank says receivership cannot follow closure because no conservator was previously appointed. Which is correct?
6. A bank temporarily cannot pay solely because extraordinary demands induced by financial panic in the banking community …
7. A minority holder of 5% of capital seeks ordinary merits review of a section 30 closure months after board receipt, arg…
8. Identify the principal current section 30 closure grounds and explain their alternative character.
9. Explain the no-prior-hearing closure rule and its relationship to judicial review.
10. A bank claims that it must first undergo conservatorship before a section 30 receiver can be designated. Resolve under …
11. Under amended Section 30, how long must an institution have been dormant to fall within the express dormancy ground?
12. How must the Monetary Board notify a closed bank’s board of directors of the closure decision under amended Section 30?