Practice question
The Monetary Board is satisfied that the institution can operate on its own and conservatorship is no longer needed. What does section 29 direct?
- Keep the conservator forever
- Automatically dissolve the bank
- Allow the conservator to buy all deposits
- Ignore the restored condition
- Terminate conservatorship
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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