Practice question
Under the beneficial-ownership regulation applied in Linsangan, when must supporting transfer documents be in the bank's custody for the valid-consideration route?
- Only after the claim has been finally denied.
- Upon PDIC takeover.
- Only when a criminal conviction becomes final.
- At any future time chosen by the transferee.
- Never; unsupported assertion is sufficient.
Legal references
- RA 10846, deposit splitting prohibition and definition: https://lawphil.net/statutes/repacts/ra2016/ra_10846_2016.html
- Linsangan v. PDIC, G.R. No. 228807, February 11, 2019, main decision: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/23/64987
- RA 11840, Section 4 amending PDIC Charter Section 5(k): https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/95626
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