Deposit

(a)The Director of Administration may direct that any monies belonging to, and under the control of, the government of Guam, in the hands of the Treasurer shall be deposited to the credit of the government in eligible banks. Any sum so deposited is deemed to be in the Treasury of Guam.

(b)Policy. It is the policy of the government of Guam that government funds shall be deposited in eligible banks in proration as those eligible banks meet the long-term capital credit needs of the Territory. Capital credit is defined to include loans made for equity investments, purchase of real estate and other loans repayable in not less than five years.

(c)Rules & Regulations. The Governor may make rules and regulations which shall be promulgated by Executive Order to implement the provisions of this Section.