The Director of Administration or any fiscal agent designated by him shall act as trustee for the Authority and the holders of bonds issued hereunder if such provision is specifically contained within the bond resolution authorizing such bonds and the bond resolution may authorize the trustee to act on behalf of the bondholders or any stated percentage thereof, and to exercise and prosecute on behalf of the bondholders such rights and remedies as may be available to the bondholders. Notwithstanding any law to the contrary, a trustee designated pursuant to this Section or a paying agent designated for the bonds may in good faith buy, sell, own, hold and deal in the bonds and coupons or any other indebtedness of the Authority or the Government provided, that such a trustee or paying agent shall not receive with respect to a transaction involving the bonds any other compensation except that received for its service as trustee or paying agent. Within thirty (30) days of any transaction whereby the trustee or paying agent buys, sells, owns, holds or deals in the bonds or coupons the trustee or paying agent shall report to the Guam Legislature as to the transaction and its involvement in it. When acting as a trustee, the Director of Administration shall cause to be established suitable accounts for the deposit of all revenue and other moneys, and for the payment of the bonds and the interest thereon and for all other payments provided or required by this Article.

SOURCE: GC § 62116, as reenacted by P.L. 16-093 (June 15, 1982).