Practice question
Under current PDIC Charter section 13, for whose benefit are closed-bank assets and affairs administered?
- Only the former president’s family
- Only the receiver’s employees personally
- The creditors
- Only shareholders before all liabilities
- Only the largest borrower
Legal references
- https://lawphil.net/statutes/repacts/ra2019/ra_11211_2019.html — RA 11211, section 13 replacing RA 7653 section 30
- https://lawphil.net/statutes/repacts/ra2022/ra_11840_2022.html — RA 11840, section 11 amending PDIC Charter section 13
Answer this question in flashcards to review your response and continue practicing.