Practice question
A bank has insufficient realizable assets to meet its liabilities, as determined by BSP on the proper report. Must regulators also prove every other section 30 ground before acting?
- No, the listed grounds are alternatives, subject to the statutory process
- Yes, all grounds must always coexist
- Yes, every director must also be convicted
- Yes, closure requires a shareholder request
- Yes, depositors must first lose every peso
Legal references
- https://lawphil.net/statutes/repacts/ra2019/ra_11211_2019.html — RA 11211, section 13 replacing RA 7653 section 30
Answer this question in flashcards to review your response and continue practicing.