Guam § 106203 - Locally Chartered or Territorial Bank: Additional Powers.
Full text of Guam Guam Code Annotated § 106203 — Locally Chartered or Territorial Bank: Additional Powers., with citation guidance and answers to common questions.
§ 106203. Locally Chartered or Territorial Bank: Additional Powers.
A locally chartered bank or territorial bank operating under this Title shall, in addition to all specific
powers conferred by this Title, have the following power:
To exercise, notwithstanding the provisions of § 106151 of Subarticle C, Title 11, Guam Code
Annotated Code and § 2106 Title 18, Guam Code Annotated, all powers necessary to qualify as a
trustee or custodian under the Federal Self-Employed Individuals Tax Retirement Act of 1962, as
amended, and the Employee Retirement Income Security Act of 1974; provided that any funds held in
such capacity shall be invested only in a savings account or time deposit of the institution.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 106203
What does Guam Code Annotated § 106203 cover?
Section 106203 ("Locally Chartered or Territorial Bank: Additional Powers.") 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 § 106203?
A common citation format is "Guam Code Annotated § 106203" (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 § 106203 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.