21 Guam Code Ann. § 76604
Terms Used In 21 Guam Code Ann. § 76604
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
(a) To sue and be sued in its own name; (b) To hire its own legal counsel;
(c) To hire or contract for the management of Trust assets and the conduct of Trust business;
(d) To enter into and execute contracts and instruments of every kind and nature, necessary or convenient to the exercise of its powers and functions;
(e) To have all corporate powers provided by law.
SOURCE: Added as GC § 13985.84 by P.L. 21-007:3 (Apr. 19, 1991). Repealed by P.L. 25-072:13(b) (Sept. 30, 1999), and reenacted by P.L. 27-
089:2 (May 6, 2004).
§ 76605. Exemption from Executive Budget Act and
Government Procurement Law.
The Trust is exempt from the provisions of the Executive
Budget Act (5 Guam Code Ann., Chapter 4).
SOURCE: Added as GC § 13985.85 by P.L. 21-007:4 (Apr. 19, 1991). Repealed by P.L. 25-072:13(b) (Sept. 30, 1999), and reenacted by P.L. 27-
089:2 (May 6, 2004).