Powers; Principal Guam Office

(a)An out-of-state bank which establishes or operates a branch in Guam under this Title may conduct any activities at the branch in Guam that are authorized under the laws of Guam for territorial banks.

(b)An out-of-state bank that has acquired a branch in Guam in an interstate merger transaction pursuant to this Article may establish or acquire additional branches or other places of business in Guam as authorized pursuant to Article 6 of this Division to the same extent that any territorial bank may establish or acquire a branch or other places of business in Guam under applicable Federal and state law.

(c)If an out-of-state bank operates two

(2)or more branches in Guam, the out-of-state bank shall designate one

(1)of its branches as its principal office in Guam.