Practice question
Which factor expressly guides management, preservation and disposition of closed-bank assets under Section 16(a)?
- Cost-benefit considerations, resources and potential asset recovery
- The personal preference of one former director alone
- The age of the bank’s logo
- The borrower’s social standing alone
- A requirement to abandon all recovery
Legal references
- RA 10846, Sections 26-29, PDIC Charter Sections 13-16, read with RA 11840: https://lawphil.net/statutes/repacts/ra2016/ra_10846_2016.html
- RA 11840, Sections 4 and 11, amended PDIC Charter Sections 5 and 13: https://lawphil.net/statutes/repacts/ra2022/ra_11840_2022.html
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