Right of Foreign Banking Corporation to Engage in Business

A foreign banking corporation shall not engage in the banking or trust business on Guam, unless it is licensed to do so pursuant to the provisions of § 106725, and unless it first complies with all the provisions of this Chapter and Chapter 7 of Title 18 of the Guam Code Annotated, and then only to the extent expressly permitted in this Chapter, or by regulations of the Board. In transacting such business a foreign banking corporation shall comply with all applicable provisions of this Title and of the laws of Guam. SOURCE: GC § 30920. Added by P.L. 13-111:5 (Dec. 11, 1975). Amended by P.L. 27-057:10 (Dec. 18, 2003).