Oath; Term of Office; Compensation

(a)Each Trustee, within ten

(10)days after being duly appointed or elected and having received a certificate of election, shall take an oath of office that the Trustee will diligently and honestly administer the affairs of the Board of Trustees, and that the Trustee will not knowingly violate or willingly permit to be violated any of the provisions of law applicable to the Fund. The oath shall be subscribed to by the member making it and shall be administered and certified by the Chief Justice of the Supreme Court of Guam.

(b)The term of office of a Trustee elected or duly appointed shall be five

(5)years from the date the Trustee first takes the oath of office following such election or appointment.

(c)Notwithstanding the expiration of the terms of office, each Trustee shall continue to serve until that Trustee’s successor is elected or duly appointed, as the case may be, and the successor has taken the oath of office. Upon the successor’s oath of office, the predecessor to that office shall be deemed to have resigned.

(d)The Trustee shall be compensated in accordance with 5 GCA § 43104, as amended.