21 Guam Code Ann. § 76606
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Terms Used In 21 Guam Code Ann. § 76606
- Fiduciary: A trustee, executor, or administrator.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
The Trust is subject to the following responsibilities:
(a) A fiduciary duty toward the funds and purposes of the Trust;
(b) The preparation of an annual audit report which is to be submitted to I Maga’lahen Guåhan [the Governor] and I Liheslaturan Guåhan [the Legislature] within sixty (60) days after the end of each fiscal year; and
(c) Establish guidelines relative to the Abatement of
Taxes as provided in Section 21 of Public Law 20-151.
SOURCE: Added as GC § 13985.86 by P.L. 21:007:5 (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 Repealed by P.L. 25-072:13(b) (Sept. 30, 1999), and reenacted by P.L. 27-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).