Guam § 106351 - Definitions.

§ 106351. Definitions.

As used in this Article, unless a different meaning is required by the context, the following words and

phrases shall have the following meanings:

(a) “Acquisition of a branch” means the acquisition of a branch located in a host state, without

engaging in an interstate merger transaction as defined in this Article.

(b) “Bank” means an “insured bank” as defined in 12 U.S.C. Section 1813(h); provided that the

term “bank” shall not include any “foreign bank” as defined in 12 U.S.C. section 3101(7), except that

the term “bank” shall include any foreign bank organized under the laws of a territory of the United

States, including Puerto Rico, Guam, American Samoa, or the U.S. Virgin Islands, the deposits of

which are insured by the Federal Deposit Insurance Corporation.

(c) “Bank holding company” has the meaning set forth in §100102 of this Title.

(d) “Bank supervisory agency” means:

(1) Any agency of a state with primary responsibility for chartering and supervising banks;

and

(2) The Office of the Comptroller of the Currency, the Federal Deposit Insurance

Corporation, the Board of Governors of the Federal Reserve System and any successor to these

agencies.

(e) “Branch” has the meaning set forth in § 106601 of this Chapter.

(f) “Control” has the meaning set forth in §100102 of this Title.

(g) “De novo branch” means a branch of a bank located in a host state which:

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(1) Is originally established by the bank as a branch; and

(2) Does not become a branch as a result of

(A) the acquisition of another bank or branch of another bank, or

(B) the merger, consolidation or conversion involving any bank or branch.

(h) “Guam bank” means a bank whose home state is Guam.

(i) “Home state” means:

(1) With respect to a state bank, the state by which the bank is chartered; and

(2) With respect to a national bank, the state in which the main office of the bank is located.

(j) “Home state regulator” means, with respect to an out-of-state bank, the bank supervisory

agency of the state in which the bank is chartered.

(k) “Host state” means a state, other than the home state of a bank, in which the bank maintains,

or seeks to establish and maintain a branch.

(l) “Interstate merger transaction” means:

(1) The merger or consolidation of banks with different home states, including the

conversion of branches of any bank involved in the merger or consolidation into branches of the

resulting bank; or

(2) The purchase of all or substantially all of the assets (including all or substantially all of

the branches) of a bank whose home state is different from the home state of the acquiring bank.

(m) “Out-of-state bank” means a bank whose home state is a state other than Guam.

(n) “Out-of-state state bank” means a bank chartered under the laws of any state other than Guam.

(o) “Resulting bank” means a bank that has resulted from an interstate merger transaction under

this Article.

(p) “State,” whenever this word is used in its uncapitalized form, means any state of the United

States, the District of Columbia, and any territory of the United States, including Puerto Rico,

American Samoa, Guam and the U.S. Virgin Islands.

(q) “Substantially all” means, with respect to the total assets or the total number of branches of a

bank, at least ninety percent (90%).

(r) “Territorial bank” has the meaning set forth in §100102 of this Title.

2013 NOTE: Pursuant the authority granted by 1 GCA § 1606, subsection designations were added/altered to adhere

to the Compiler’s alpha-numeric scheme.