The Liquidator is appointed when the Court makes the winding-up order.
Frequently Asked Questions
- What happens to those depositors whose accounts are subject to further examination?
- When can an eligible depositor expect to receive his or her money?
- When must a depositor file a claim?
- 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?
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.