Penalties

It shall be a misdemeanor punishable by a fine of not more than Twenty-Five Thousand Dollars ($25,000) if any entity does any of the following:

(a)Conducts business in Guam without being licensed pursuant to this Chapter.

(b)All penalties, fines and licensing fees collected under this Chapter and from all licensing fees paid by all banks in Guam for the operation of an automated teller machine or customer-bank communication terminal shall be set aside in the Banking and Insurance Enforcement Fund to be utilized by the Department to enforce the provisions of this Section.