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
- How does the closing of an institution affect interest accruing on a deposit?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- What procedure does the DIC follow after an institution has been closed?
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$125,000.