11 GCA § 162107
Interests of a Financial Institution
View official PDF ↗A financial institution administering a fund shall not have an interest in that fund other than in its fiduciary capacity. If, because of a creditor relationship or otherwise, the bank acquires an interest in a participating account, the participating account must be withdrawn on the next withdrawal date. However, a financial institution may invest assets that it holds as fiduciary for its own employees in a fund.
§ The story of this section
- Enacted by P.L. 32-38 § 1 — introduced as Bill 59-32 · introduced by Vicente C. Pangelinan + 14 cosponsors · lead sponsor unverified
Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.