All creditors rank equally in terms of voting rights.
Frequently Asked Questions
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
- How does the closing of an institution affect interest accruing on a deposit?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- What types of deposits are insured?
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.