Guam § 106171 - Reserves Against Deposits.
Full text of Guam Guam Code Annotated § 106171 — Reserves Against Deposits., with citation guidance and answers to common questions.
§ 106171. Reserves Against Deposits.
(a) A bank whether or not a member of the Federal Reserve System, shall maintain such reserves
against deposits as may be established by the Federal Reserve Act or by the Board of Governors of the
Federal Reserve System.
(b) The reserve fund shall consist of legal tender on hand on the premises of the bank and money due
on demand from a Federal Reserve Bank or other bank approved as a reserve depositary by the
Commissioner.
(c) It shall be a criminal offense against this Title for a territorial bank to continue an average
deficiency in its reserve covering any two successive banking days for more than one additional banking
day without notifying the Commissioner.
Frequently Asked Questions About Guam § 106171
What does Guam Code Annotated § 106171 cover?
Section 106171 ("Reserves Against Deposits.") 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 § 106171?
A common citation format is "Guam Code Annotated § 106171" (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 § 106171 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.