I-13.2.2 - Deposit Institutions and Deposit Protection Act

Full text
40.51. The Authority must prescribe an indemnification plan by regulation and determine the holders of securities issued by deposit institutions belonging to the cooperative group and the creditors of those institutions that are eligible for the plan.
Only eligible holders of securities and creditors that, because of the resolution operations, are in a worse financial position than they would have been had the deposit institution belonging to the cooperative group been liquidated or wound up are entitled to receive an indemnity.
2018, c. 232018, c. 23, s. 376.
In force: 2019-03-31
40.51. The Authority must prescribe an indemnification plan by regulation and determine the holders of securities issued by deposit institutions belonging to the cooperative group and the creditors of those institutions that are eligible for the plan.
Only eligible holders of securities and creditors that, because of the resolution operations, are in a worse financial position than they would have been had the deposit institution belonging to the cooperative group been liquidated or wound up are entitled to receive an indemnity.
2018, c. 232018, c. 23, s. 376.