Prohibition of Out-of-State Banks to Establish De Novo Interstate Branch

(a)An out-of-state bank that does not operate a branch in Guam acquired through an interstate merger transaction under this Title may not establish and operate a de novo branch in Guam.

(b)An out-of-state bank that does not operate a branch in Guam acquired through an interstate merger transaction under this Title may not establish and operate a branch in Guam through the acquisition of a branch.

(c)Notwithstanding Subsection (b), the Commissioner may approve the acquisition of a branch by an out-of-state bank in the case of a Guam bank that has been determined by a Federal bank supervisory agency to be in default or in danger of default.