Cancellation of License If Trust Company Fails to Open

11 GCA § 160212 — under Guam-Based Trust Companies Act.

11 GCA § 160212

for Business. If a proposed Trust Company fails to open for business within six (6) months after the date the license was issued, or within an additional six (6) month extension granted by the Commissioner upon written application and for good cause shown, the Commissioner shall issue an order canceling the Trust Company=s license.

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ARTICLE 3 POWERS AND MISCELLANEOUS PROVISIONS