11 Guam Code Ann. § 106137
Terms Used In 11 Guam Code Ann. § 106137
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(1) The lessor is directed to do so by a court order issued in an action in which the lessee is served with process and named as a party by a name which identifies him with the name in which the safe deposit box is leased or the property held; or
(2) The safe deposit box is leased or the property is held in the name of a lessee with the addition of words indicating that the contents or property is held in a fiduciary capacity, and the adverse claim is supported by a written statement of facts disclosing that it is made by or on behalf of a beneficiary and that there is reason to know that the fiduciary will misappropriate the trust property.
(b) A claim is also an adverse claim where one of several lessees claims, contrary to the terms of the lease, an exclusive right of access or
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where one or more persons claim a right of access as agents or officer of a lessee to the exclusion of others as agents or officers, or where it is claimed that a lessee is the same person as one using another name.
SOURCE: GC § 30106.