Guam § 109102 - Foreign Exchange License.
Full text of Guam Guam Code Annotated § 109102 — Foreign Exchange License., with citation guidance and answers to common questions.
§ 109102. Foreign Exchange License.
No person shall engage in the business of selling foreign currency
notes or engage in the business of receiving money for the purpose of
transmitting the same or its equivalent to foreign countries without first
obtaining a license from the Commissioner. For the purposes of this
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Article licensee means any person licensed pursuant to this Article. The
provisions of this Article shall also apply to persons engaged in the
business of receiving money for the purpose of transmitting the same
within the United States by an instrument or order drawn upon and
directed to the person receiving the money for transmission. The
provisions of this Article shall not apply to (a) a bank or trust company
or a foreign banking corporation licensed to do business in this territory,
or (b) the receipt of money by an agent of an incorporated telegraph
company at any regular office of such company for immediate
transmission by telegraph.
Frequently Asked Questions About Guam § 109102
What does Guam Code Annotated § 109102 cover?
Section 109102 ("Foreign Exchange License.") 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 § 109102?
A common citation format is "Guam Code Annotated § 109102" (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 § 109102 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.