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What is the status of the assets of a closed bank in the hands of the receiver?
What is the status of the assets of a closed bank in the hands of the receiver?
- They are deemed in custodia legis (correct)
- They are returned to the bank's shareholders
- They are subject to immediate sale
- They are under the control of the bank's management
What is the primary purpose of placing a bank's assets in custodia legis?
What is the primary purpose of placing a bank's assets in custodia legis?
- To facilitate the sale of the bank's assets
- To protect the bank's assets from creditors (correct)
- To allow the bank's management to regain control
- To punish the bank's shareholders
What is the effect of a bank's assets being deemed in custodia legis?
What is the effect of a bank's assets being deemed in custodia legis?
- The assets are returned to the bank's depositors
- The assets are subject to attachment and garnishment
- The assets are protected from attachment and garnishment (correct)
- The assets are sold immediately
Who is responsible for managing a closed bank's assets in custodia legis?
Who is responsible for managing a closed bank's assets in custodia legis?
What is the implication of a bank's assets being in custodia legis on the bank's depositors?
What is the implication of a bank's assets being in custodia legis on the bank's depositors?
What is the primary purpose of a liquidation proceeding in a bank?
What is the primary purpose of a liquidation proceeding in a bank?
Which entity is responsible for representing and acting on behalf of a closed bank?
Which entity is responsible for representing and acting on behalf of a closed bank?
What is the primary goal of deposit insurance coverage?
What is the primary goal of deposit insurance coverage?
What is the role of the PDIC Board of Directors in relation to bank regulation?
What is the role of the PDIC Board of Directors in relation to bank regulation?
What happens to a bank that is placed under receivership?
What happens to a bank that is placed under receivership?
What is the role of the receiver in a bank closure?
What is the role of the receiver in a bank closure?
What is the primary purpose of the receiver's services after bank closure?
What is the primary purpose of the receiver's services after bank closure?
When does the receiver impose charges and fees for services rendered?
When does the receiver impose charges and fees for services rendered?
What is the receiver acting on behalf of when imposing charges and fees?
What is the receiver acting on behalf of when imposing charges and fees?
What is the outcome of the receiver's services in a bank closure?
What is the outcome of the receiver's services in a bank closure?
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