11 Guam Code Ann. § 160103
Terms Used In 11 Guam Code Ann. § 160103
- 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.
- Trustee: A person or institution holding and administering property in trust.
(a) banks or banking institutions regulated under the provisions of Chapter 100 of Title 11 of the Guam Code Annotated;
(b) savings and loan institutions regulated under Chapter 141 of Title 11 of the Guam Code Annotated;
(c) title insurers, but only respecting escrows;
(d) nonprofit, charitable trusts or trust associations; (e) any person, if:
(1) the fiduciary relationship is not one of the person’s principal occupations; or
(2) that person serves as trustee for a relative by blood or marriage; or
(f) to a beneficiary of the Guam Foreign Direct Investment
Equity Act.
SOURCE: Added by P.L. 25-073 (Oct. 19, 1999). Amended by P.L. 25-149:2 (July 5, 2000).
COL4122017
11 Guam Code Ann. FINANCE & TAXATION
CH. 160 GUAM-BASED TRUST COMPANIES ACT
2017 NOTE: Subsection/subitem designations altered pursuant to the authority of
1 Guam Code Ann. § 1606.
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ARTICLE 2
ORGANIZATION AND LICENSING