T·R
← Search

11 GCA § 106508

Unlawful Payment of Penalties and Judgments Against Others, Including Directors

Guam Code AnnotatedTitle 11 — Finance and Taxation
View official PDF ↗

and Officers. It shall be unlawful for a territorial bank to pay a fine or penalty imposed by law upon any other person or any judgment against such person or to reimburse directly or indirectly any person by whom such fine, penalty or judgment has been paid, except in settlement of its own liability or in connection with the acquisition of property against which such judgment is a lien, or as provided in § 106212.

§ The story of this section

  1. Affected by P.L. 23-127 § 2 — introduced as Bill 681-23 · introduced by Francis E. Santos + 2 cosponsors

Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.