PAYMENT OF INSURED DEPOSITS

• A bank may be ordered closed by the Bangko Sentral ng Pilipinas

• Upon closure or expiration or revocation of a bank’s corporate term, payment of insured deposits shall be made as soon as possible by the Philippine Deposit Insurance Corporation (PDIC)

• PDIC may require proof of claims to be filed before paying the insured deposits

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EASEMENT OF RIGHT OF WAY

• The owner of an estate may claim a legal right of way only after he has established the existence of all the requisites.

• The easement of right of way shall be established at the point least prejudicial to the servient estate.

• Easement of right of way is not compulsory if the isolation of the immovable is due to the proprietor’s own acts.

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Who are the Beneficial Owners of the Corporation?

• Beneficial Owner refers to any natural person(s) who ultimately own(s) or control(s) or exercise(s) ultimate effective control over the corporation.

• Legal Owners are those natural or juridical person who owns or has the controlling ownership interest over the corporation.

• The natural person(s) who ultimately owns at least twenty-five percent (25%) of the voting shares or capital of the reporting corporation through ownership of shares in a corporate stockholder or through multiple layers of corporate stockholders shall be considered as a Beneficial Owner.

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HOW ARE EASEMENTS ACQUIRED?

• If the easement is continuous and apparent, they may be acquired by title or by prescription.

• If the easement is discontinuous and apparent, it can only be acquired by title.

• If the easement is continuous and non-apparent or discontinuous and non-apparent, it can be acquired only by title.

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