Deposit Insurance Act Article 41

Upon the issue of an order of the competent authority or the central competent authority of the agricultural finance to close an insured institution, the CDIC shall be appointed as the receiver to commence the winding-up procedure, and the winding-up procedure shall apply to the related winding-up articles stipulated by the Banking Act.To meet the liquidity needs of the creditors of the suspended insured institution, the CDIC may, without increasing the costs incurred by the CDIC in taking any action under Paragraph 1 of Article 28, make advance payment against claims filed by the depositors beyond the maximum insured amount and by non-deposit creditors based on the anticipated reimbursement ratio derived from an evaluation of the values of assets of the suspended insured institution. The aforesaid sums of the advance payment shall be counted item-by-item on the basis of the recovery order of the advance payment claims, and deducted first from the amount finally realized from the liquidation and returned to the CDIC.The regulation for calculating and operating the aforesaid advance payment in respect of the depositors beyond the maximum insured amount and non-deposit creditors based on the anticipated reimbursement ratio shall be drawn up by the CDIC and submitted to the competent authority for approval.