Practice question
Identify the elements that distinguish prohibited deposit splitting from a legitimate transfer. Address source balances, breakup into other-name accounts, beneficial ownership, statutory timing and insurance purpose.
Legal references
- PDIC Charter, as amended through RA 11840, current consolidated text, deposit-splitting provision, https://www.pdic.gov.ph/files/PDIC%20Charter%202022.pdf
- PDIC Regulatory Issuance 2009-003, Parts III–V, https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/10/50378
- Linsangan v. PDIC, G.R. No. 228807, 11 February 2019, https://lawphil.net/judjuris/juri2019/feb2019/gr_228807_2019.html
- PDIC, maximum coverage increase effective 15 March 2025, https://www.pdic.gov.ph/files/ccd/PR-038-25%20New%20maximum%20deposit%20insurance%20coverage%20of%20P1%20Million%20takes%20effect%20on%20March%2015.pdf
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