Practice question
What qualification does Section 29 expressly require of a conservator?
- Competence and knowledge in bank operations and management
- Election by every depositor
- Ownership of all bank shares
- Membership in the local council
- Being the bank’s largest borrower
Legal references
- RA 7653, Section 29 (conservatorship): https://lawphil.net/statutes/repacts/ra1993/ra_7653_1993.html
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