Guam § 127104 - Joint Tenants.

§ 127104. Joint Tenants.

(a) When shares or investment certificates are issued in the name of

two or more persons, whether minor or adult, as joint tenants or in form

to be paid to any of them or the survivor or survivors of them, such

shares or certificates and all dues paid on account thereof by either or

any of such persons shall become the property of such persons as joint

tenants. Such shares or investment certificates, together with all

dividends and interest thereon, shall be held for the exclusive use of such

joint tenants and may be paid to either or any of them during their

lifetime or to the survivor or any one of the survivors of them after the

death of one or more of them. By written instructions of all such joint

tenants given to the association, they may require the signatures of more

than one of such persons during their lifetimes or of more than one of the

survivors after the death of any one of them on any notice of withdrawal,

request for withdrawal, check endorsement or receipt, in which case the

association shall pay withdrawals, dividends and interest only in

accordance with such instructions, but no such instructions shall limit the

right of the sole survivor or of all of the survivors to receive withdrawal

payments, dividends and interest.

(b) Payment as provided in the preceding paragraph and the receipt

or acquittance of the person or persons to whom such payment is made

shall be a valid and sufficient release and discharge to such association

for all payments made on account of such shares or certificates prior to

the receipt by such association of notice in writing from any one of them

not to make payments in accordance with the terms of such shares or

certificates or of such instructions. After receipt of such notice an

association may refuse, without liability, to pay withdrawals, dividends

or interest pending determination of the rights of the parties. The

purchase or acceptance of shares or investment certificates in such form

shall, in the absence or fraud or undue influence, be conclusive evidence,

in any action or proceeding to which either the association or the

surviving share or certificate holder or holders may be a party, of the

intention of such, share or certificate holders to vest title to such shares

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or certificate and dues paid on account thereof and dividends and interest

thereon in such survivor or survivors.