It does not seem to be the suckering type of palm? The specimen at George Brown Botanical garden doesn't seem to have suckers altho it drops nuts (do we call it nuts) everywhere? And people prob used to get those and plant them all over as I remember seeing it a lot in the area (it was not a Bismarck palm as it had the characteristic black trunk).
I think most non-suckering palms die when topped? But I have seen Coconut (Cocos nucifera) grow an alternate branch (wrong term?) sometimes, after the growing tip has been damaged say, by a storm. Although it's very, very rare, most times the coconut tree just dies off.