18 Guam Code Ann. § 66601
Terms Used In 18 Guam Code Ann. § 66601
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Trustee: A person or institution holding and administering property in trust.
COL7222015
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 66 TRUSTS FOR THE BENEFIT OF THIRD PERSONS
The court having jurisdiction must appoint a trustee whenever there is a vacancy and the declaration of trust does not provide a practical method of appointment. In all cases of appointment of any trustee or trustees by any court, if the beneficiaries, or any one of them are of the age of fourteen (14) years, they, or the one or more of them of the age of fourteen (14) years, may make nomination to the court; and unless such nominee or nominees are incompetent, upon one or more of the grounds of incompetency specified in
15 Guam Code Ann. ‘1701 [Probate], to discharge the duties of trustee, the court must appoint such nominee, or nominees, as trustee or trustees, as the case may be.
SOURCE: CC § 2287.