Guam § 7102 - Standards Established for Handling Money.

§ 7102. Standards Established for Handling Money.

COL222017

Any officer, agent, contractor, or employee of the Executive Branch

of the government of Guam who is charged with or assumes

responsibility for the certification of availability of funds or the spending

of money belonging to the territory of Guam, including the Governor and

Lt. Governor of Guam, stands in a fiduciary relationship to the people of

Guam in regard to the management of public money. Any such officer,

agent, contractor, or employee of the Executive Branch shall discharge

their duties with respect to the management of public money solely in the

interest of the people of the territory of Guam. Any such officer, agent,

contractor, or employee shall discharge his duties with the care, skill,

prudence and diligence under the circumstances then prevailing that a

prudent person acting in like capacity and familiar with such matters

would use in the conduct of an enterprise of like character and with like

aims.