Definitions

As used in this Chapter, unless the context otherwise requires: “Collective investment fund” means a fund maintained by a financial institution that consists solely of assets of retirement, pension, profit sharing, stock bonus or other trusts that are exempt from federal income tax. “Commissioner” means the Commissioner of Banking and Insurance, appointed under § 103102 of Chapter 103 of Title 11, Guam Code Annotated. “Fiduciary” means a financial institution or other person acting in the capacity of guardian, conservator, personal representative, or trustee, either solely or together with others, or custodian under a uniform gifts or transfer to minors act of any state or territory. “Financial institution” means a territorial bank, a state bank, a national bank, a state or federally chartered savings and loan association, or a trust company under the Guam-Based Trust Companies Act that, in each case, is authorized to act in a fiduciary capacity in Guam. “Fund” means a collective investment fund. “Participating Account” means a trust or other fiduciary account that has contributed assets to a collective investment fund. “Plan” means the written plan for a fund described in §162103.