10 Guam Code Ann. § 79101
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Terms Used In 10 Guam Code Ann. § 79101
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(a) There is hereby created, separate and apart from other funds of the government of Guam, a fund to be known as the ‘Special Assets Forfeiture Fund’ (‘Fund’), which shall be divided into two (2) accounts; one account to be known as the ‘Local Assets Forfeiture Account’ (‘LAFA’), and the other account to be known as the ‘Federal Shared Assets Forfeiture Account’ (‘FSAFA’).
(b) The Fund shall not be commingled with the General Fund and shall be kept in a separate bank account, administered by the Chief of Police of the Guam Police Department (‘Chief’).
(c) Expenditure from the Fund shall be authorized by legislative appropriation exclusively for the purposes pursuant to §§ 79104(a) and (b) of this Chapter.
2018 NOTE: Subsection designation added pursuant to authority by 1
GCA § 1606.