(a) A bank may acquire real estate and equipment and improve real estate to be used in the transaction of its business on Guam and may rent any space so acquired in a building in excess of its present actual need; provided that unless a larger investment is authorized by the Commis- sioner, no banks shall invest more than the following:

(1) Investment

(2) Land, building and equipment 50% of capital
(other than safe deposit equipment);

(3)Equipment alone (other than safe 15% of capital deposit equipment)

Safe deposit equipment 10% of capital in addition to the

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11 Guam Code Ann. FINANCE & TAXATION
CH. 106 BANKS

above

(b) The rate of depreciation of property so acquired may be prescribed by the Commissioner.

SOURCE: GC § 30306.

2013 NOTE: Pursuant the authority granted by 1 Guam Code Ann. § 1606, numbers and/or letters in subsection (a) were added to adhere to the Compiler’s alpha-numeric scheme.