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I-13.2.2 - Deposit Institutions and Deposit Protection Act
Section 30.14
Disposition versions
30.14. The authorization granted by the Authority to a deposit institution is revoked by operation of law if
(1) the deposit institution is dissolved or liquidated or wound up due to any external cause; or
(2) the authorization, if any, granted to it by the Authority to carry on activities as an insurer or trust company, is subject to forced revocation.
The deposit institution shall notify the Authority, without delay, of a fact referred to in subparagraph 1 of the first paragraph.
