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Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?

April 26, 2017Depositor dic institution ownership proof transferee

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Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?

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The depositor has to satisfy the DIC or transferee institution that he/she is the rightful owner of the deposit claimed. In cases of doubt, the transferee institution may refer the matter to the DIC.