The Liquidator is appointed when the Court makes the winding-up order.
Frequently Asked Questions
- If a depositor has more than $125,000 (the current insured limit) in a failed institution and is paid $125,000 by the DIC, what happens to the amount in excess of $125,000?
- What is a DIC certificate?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- When is deposit insurance payable?
Did You Know?
- Misconception: Mutual Funds are covered by Deposit Insurance.- Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.