11 Guam Code Ann. § 116107
Terms Used In 11 Guam Code Ann. § 116107
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
COL120106
11 Guam Code Ann.FINANCE & TAXATION
CH. 116 WITHDRAWAL SHARES
Notwithstanding any other provision of law, savings and loan associations organized or operating under this title may exercise any and all such powers and may offer and accept any accounts or deposits that are permitted to be exercised or offered or accepted by a federal savings and loan association doing business in this territory (whether or not such association is doing such business). Nothing in this Section shall restrict or limit any right or power that a domestic association has under any other provision of law. All such accounts or deposits shall be legal investments for the funds of the government of Guam to the extent such shares are insured by the Federal Savings and Loan Insurance Corporation, and for the funds of executors, administrators, guardians, receivers, and trustees of every kind and nature, and for the funds of all insurance companies, and when, by any law of this territory, it is provided that the monies of any pension fund, retirement plan, trust fund, or the monies of any fund the investment of which is governed by law may or shall be invested in securities which are a legal investment for savings banks, then such law shall be deemed to authorize investment of such monies in such accounts or deposits.
SOURCE: GC §41156 added by P.L. 17-28:5.
———-
COL120106