Terms Used In 11 Guam Code Ann. § 103109

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Trustee: A person or institution holding and administering property in trust.
All officers and employees of the Division of Insurance, Securities and Banking, other than the Commissioner, shall be in the classified service. The Commissioner may delegate to any officer or employee of the Division any of his or her powers and may designate any officer or employee of the Division to perform any of his or her duties.

§ 103110. Banking or Insurance Interests of Officers and
Employees.

(a) No employee of the Division shall be an officer, director, trustee, attorney, owner, shareholder, partner, broker,(b) This provision shall not prohibit being a depositor or insurance policy holder on the same terms as are available to the public generally, or being indebted to a bank on the same terms as are available to the public generally, including, but not limited to, a mortgage loan upon the mortgagor‘s own home, and installment debt of a personal nature.