Practice question
A non-stock savings and loan association is closed on an applicable statutory ground. Must its receiver invariably be PDIC under amended Section 30?
- Yes, with no exception
- No; BSP may designate a person of recognized competence in banking, credit or finance
- Yes, if its name contains savings
- Only the mayor may serve
- Its largest borrower automatically serves
Legal references
- RA 11211, Section 13, amending RA 7653 Section 30: https://lawphil.net/statutes/repacts/ra2019/ra_11211_2019.html
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