Practice question
To whom is notice of closure first served under PDIC Charter Section 14(a) when that person is present on the premises?
- Any passerby
- The highest-ranking officer of the bank present
- Only a foreign regulator
- Only the youngest depositor
- Only the former owner’s family
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
Answer this question in flashcards to review your response and continue practicing.