Deposit of Estate Funds in Bank or Savings and Loan

Association. A personal representative may deposit any money belonging to the estate with one or more banks licensed to do business in the Territory of Guam, or invest any such money in an account or accounts in one or more insured savings and loan associations licensed to do business in the COL372014 CH. 22 POWERS AND DUTIES OF EXECUTORS, ADMINISTRATORS WITH THE WILL ANNEXED AND ADMINISTRATORS Territory of Guam, whereupon the personal representative shall be discharged from further care or responsibility therefor until the money is withdrawn by the personal representative. Unless such money is so deposited or invested pursuant to an order by the Superior Court of Guam, under the provisions of Subchapter B of Chapter 20 of this Title or otherwise, it may be withdrawn without order of the Superior Court of Guam. The term Aaccount or accounts in one or more insured savings and loan associations,@ as used in this Section, shall have the same meaning as the term Aaccount in an insured savings and loan association@ in Section 2009(c) of this Title.