Practice question
No bank officer is present when PDIC serves closure notice. What alternative does Section 14(a) allow?
- Abandon closure forever
- Give notice only to a borrower abroad
- Require all depositors to sign
- Wait for the next annual meeting
- Post the notice in the premises or on the main entrance
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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