Guam § 106106 - Deposits in Two Names.
Full text of Guam Guam Code Annotated § 106106 — Deposits in Two Names., with citation guidance and answers to common questions.
§ 106106. Deposits in Two Names.
(a) When a deposit has been made or shall hereafter be made, in any bank in the names of two persons,
payable to either, or payable to either or survivor, such deposit, or any part thereof, or any interest or
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dividend thereon, may be paid to either of said persons, whether the other be living or not; and the receipt
of acquittance of the person so paid shall be a valid and sufficient release and discharge to the bank for any
payment so made.
(b) No bank so paying any such survivor shall thereby be liable for any estate, inheritance or succession
taxes due Guam.
Frequently Asked Questions About Guam § 106106
What does Guam Code Annotated § 106106 cover?
Section 106106 ("Deposits in Two Names.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 106106?
A common citation format is "Guam Code Annotated § 106106" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 106106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.