Practice question
In the PDIC deposit-splitting definition, the transferred accounts are placed in whose names?
- Only genuine buyers who indisputably own the money.
- Only the Monetary Board's name.
- Persons or entities lacking beneficial ownership of the transferred deposits, with the other statutory elements present.
- Only the original depositor's identical name.
- Only a court's name.
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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