Shareholders of a failed institution recover their investment only after all depositors and other creditors receive payment in full on their claims, including interest, in accordance with the laws governing liquidation.
Frequently Asked Questions
- What happens to those depositors whose accounts are subject to further examination?
- What procedure does the DIC follow after an institution has been closed?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- What does a deposit transfer involve?
Did You Know?
- Misconception: Establishing more than one joint account in the same institution with the same names increases insurance coverage. - Fact: All joint accounts with the same names, notwithstanding alterations to the sequence of names, are added together and insured up to a maximum of TT$200,000.
