Practice question
A report shows continuing inability to maintain liquidity adequate to protect depositors and creditors. Which section 29 response may the Monetary Board take?
- Appoint a qualified conservator with the statutory restorative powers
- Treat liquidity as legally irrelevant
- Allow any depositor to seize assets
- Automatically give the president immunity
- Convert every deposit into a donation
Legal references
- https://lawphil.net/statutes/repacts/ra1993/ra_7653_1993.html — RA 7653, section 29
- https://lawphil.net/statutes/repacts/ra2019/ra_11211_2019.html — RA 11211, section 13 amending section 30
- https://lawphil.net/judjuris/juri1996/jan1996/gr_115849_1996.html — First Philippine International Bank v. Court of Appeals, G.R. No. 115849, January 24, 1996, main opinion
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