Guam § 106512 - Criminal Sanctions, Violations of Rules and Orders.

§ 106512. Criminal Sanctions, Violations of Rules and Orders.

(a) Any corporate entity responsible for an act or omission expressly declared to be a criminal offense

by this Act shall be guilty:

(1) Of a misdemeanor punishable by a fine not exceeding Fifty Thousand Dollars ($50,000).

COL 2025-04-22

(2) If the act or omission was intended to defraud, of a felony punishable by fine not exceeding

One Hundred Thousand Dollar ($100,000).

(b) Violation of this Act by an individual shall be a misdemeanor if the amount involved is less than

One Thousand Dollars ($1,000.00). Violation where the sum involved exceeds One Thousand Dollars

($1,000.00) shall be a felony.

(c) An officer, director, employee, agent or attorney of a bank shall be responsible for an act or

omission of the institution declared to be a criminal offense against this Title whenever, knowing that such

act or omission is unlawful, he participates in authorizing, executing, ratifying or concealing such act, or in

authorizing or ratifying such omission or, having a duty to take the required action, omits to do so.

A director shall be deemed to participate in any action of which he has knowledge taken or omitted to be

taken by the board of which he is a member unless he dissents therefrom in writing and promptly notifies

the Commissioner of his dissent.

(d) It shall be a criminal offense against this Title to violate any lawful order of the Board or of the

Commissioner, served upon it, or knowingly violate any lawful rule, regulation or order of the Board.

(e) Unless otherwise provided in this Title, it shall be no defense to a criminal prosecution hereunder

that the defendant did not know the facts establishing the criminal character of the act or omission charged

if he could and should have known such facts in the proper performance of his duty.