Guam § 106107 - Deposits in Trust.
Full text of Guam Guam Code Annotated § 106107 — Deposits in Trust., with citation guidance and answers to common questions.
§ 106107. Deposits in Trust.
(a) Whenever any deposit shall be made in any bank by any person in trust for another, and no other
or further notice of the existence and terms of a legal and valid trust shall have been given in writing to the
bank; in the event of the death of the trustee, the same, or any part thereof, together with the dividends or
interest thereon, may be paid to the person for whom said deposit was 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 § 106107
What does Guam Code Annotated § 106107 cover?
Section 106107 ("Deposits in Trust.") 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 § 106107?
A common citation format is "Guam Code Annotated § 106107" (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 § 106107 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.