Responsibilities of the Trust

The Trust is subject to the following responsibilities: (a) A fiduciary duty toward the funds and purposes of the Trust; (b) The preparation of an annual audit report which is to be submitted to I Maga'lahen Guåhan [the Governor] and I Liheslaturan Guåhan [the Legislature] within sixty (60) days after the end of each fiscal year; and (c) Establish guidelines relative to the Abatement of Taxes as provided in Section 21 of Public Law 20-151. SOURCE: Added as GC § 13985.86 by P.L. 21:007:5 (Apr. 19, 1991). Repealed by P.L. 25-072:13(b) (Sept. 30, 1999), and reenacted by P.L. 27- 089:2 (May 6, 2004).