Guam § 106729 - Accepting Domestic Deposits.
Full text of Guam Guam Code Annotated § 106729 — Accepting Domestic Deposits., with citation guidance and answers to common questions.
§ 106729. Accepting Domestic Deposits.
(a) In this Section “person” means any person, firm, partnership, association, corporation, company,
syndicate, estate, trust, business trust or organization of any kind or any branch or division thereof which
is located within Guam.
(b) A foreign banking corporation may transact in Guam the business of accepting deposits from any
person who is domiciled and maintains its principal place of business within Guam if:
(1) Such foreign banking corporation has complied with all of the requirements of § 106722; and
(2) Such deposits may only be accepted from persons who are or were borrowers from a bank
accepting the deposit, provided that the balance of any deposit account shall not exceed the larger of
COL 2025-04-22
the total current indebtedness of the depositor running to the bank or the largest amount of such
indebtedness outstanding on any day during the previous calendar month.
(c) A foreign banking corporation may accept and hold the deposits of other bank within Guam when
a correspondent relationship exists with such other banks.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 106729
What does Guam Code Annotated § 106729 cover?
Section 106729 ("Accepting Domestic 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 § 106729?
A common citation format is "Guam Code Annotated § 106729" (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 § 106729 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.