Penalty

Every officer, employer, director or agent of a Trust Company who knowingly or willfully neglects to perform any duty required by this Chapter or other applicable law, or who knowingly or willfully fails to conform to any material lawful requirement made by the Commissioner, is subject to removal upon order of the Commissioner, and upon COL4122017 CH. 160 GUAM-BASED TRUST COMPANIES ACT conviction shall be punished by either imprisonment of not less than one

(1)year, and not to exceed six

(6)years, or by a fine of not more than Five Thousand Dollars ($5,000.00), or by both fine and imprisonment.