Guam § 1217 - Director of Administration as Trustee.
Full text of Guam Guam Code Annotated § 1217 — Director of Administration as Trustee., with citation guidance and answers to common questions.
§ 1217. Director of Administration as Trustee.
The Director of Administration or any fiscal agent designated by him shall act as trustee for the
Authority and the holders of bonds issued hereunder if such provision is specifically contained within the
bond resolution authorizing such bonds and the bond resolution may authorize the trustee to act on behalf
of the bondholders or any stated percentage thereof, and to exercise and prosecute on behalf of the
bondholders such rights and remedies as may be available to the bondholders. Notwithstanding any law to
the contrary, a trustee designated pursuant to this Section or a paying agent designated for the bonds may
in good faith buy, sell, own, hold and deal in the bonds and coupons or any other indebtedness of the
Authority or the Government provided, that such a trustee or paying agent shall not receive with respect to
a transaction involving the bonds any other compensation except that received for its service as trustee or
paying agent. Within thirty (30) days of any transaction whereby the trustee or paying agent buys, sells,
owns, holds or deals in the bonds or coupons the trustee or paying agent shall report to I Liheslaturan
Guåhan as to the transaction and its involvement in it. When acting as a trustee, the Director of
Administration shall cause to be established suitable accounts for the deposit of all revenue and other
moneys, and for the payment of the bonds and the interest thereon and for all other payments provided or
required by this Article.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 1217
What does Guam Code Annotated § 1217 cover?
Section 1217 ("Director of Administration as Trustee.") 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 § 1217?
A common citation format is "Guam Code Annotated § 1217" (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 § 1217 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.