All creditors rank equally in terms of voting rights.
Frequently Asked Questions
- If two or more persons, for example a husband and wife, have, in addition to the individually owned accounts of each, a valid joint account in the same insured institution, is each account separately insured?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Must a claim be filed in person?
- Who should file a claim if more than one person is authorised to draw on an account?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
