Frequently Asked Questions
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Must a claim be filed in person?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …
