The DIC is statutorily obligated to commence payment to depositors within three months of closure of an institution.
Frequently Asked Questions
- When must a depositor file a claim?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- How quickly will the Liquidator make payments on certificates?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
