Out of State Banks

No out-of-state bank shall transact business in Guam. This Section shall not be deemed to prohibit:

(a)Any out-of-state bank from making loans secured by liens on real property located in Guam;

(b)Any out-of-state bank from being a resulting bank in an interstate merger transaction conducted pursuant to Article 3.5 of this Chapter;

(c)Any out-of-state bank from operating a branch within Guam to the extent permitted pursuant to Article 3.5 of this Chapter and by § 106601; or

(d)Any out-of-state bank doing business within Guam on the effective date of this Act from operating its branches within Guam in existence of the effective date of this Act.