Guam § 35102 - Definitions.

§ 35102. Definitions.

As used in this Chapter:

(a) State means any of the United States, the District of

Columbia, Puerto Rico, the Virgin Islands, American Samoa and the

Trust Territory of the Pacific Islands.

(b) American lender means (1) a member of the Federal

Reserve System, an insured bank as defined in the Federal Savings

and Loan Insurance Corporation Act, a federally chartered savings

and loan association, a real estate investment trust as defined in the

Internal Revenue Code, or an insurance company, the principal

office of which is in a state, whether incorporated or unincorporated

and whether investing in its individual capacity or in a fiduciary

capacity; (2) the trustee or trustees from time to time in office of any

employee benefit plan; (3) any corporation all of the capital stock of

which (except directors= qualifying shares) is owned by one or more

American lenders of the classes specified in clauses (1) and (2) of

this paragraph; but the term American lender does not include any

small loan or industrial loan company or similar business.

(c) Employee benefit plan means any plan, fund, or program

which was heretofore or is hereafter established in and under the

laws of a state by an employer or by an employee organization, or

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both, for the purpose of providing for its participants or their

beneficiaries, through the purchase of insurance or annuity contracts

or otherwise, medical, surgical or hospital care or benefits, or

benefits in the event of sickness, accident, disability, death, or

unemployment, or retirement benefits, and includes any profit-

sharing plan which provides benefits at or after retirement. As used

in the preceding sentence, the term employee organization means

any labor union or any organization of any kind, or any agency or

employee representation committee, association, group, or plan in

which employees participate and which exists for the purpose, in

whole or in part, of dealing with employers concerning an employee

benefit plan or other matters incidental to employment relationships

or any employees= beneficiary association organized for the purpose,

in whole or in part, or establishing such a plan.

(d) Loans means obligations secured by liens upon real

property, or any interest in real property, situated in Guam, which

liens may also cover such personal property as is or may from time

to time be affixed or attached to or located on or in or about the real

property or any improvements thereon or thereto, and include

obligations secured by liens upon real property interests therein

situated both within and without Guam.