11 Guam Code Ann. § 162107
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Terms Used In 11 Guam Code Ann. § 162107
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
A financial institution administering a fund shall not have an interest in that fund other than in its fiduciary capacity. If, because of a creditor relationship or otherwise, the bank acquires an interest in a participating account, the participating account must be withdrawn on the next withdrawal date. However, a financial institution may invest assets that it holds as fiduciary for its own employees in a fund.
SOURCE: Added by P.L. 32-038:1 (June 7, 2013).