Title 5, Government Operations

Securities purchased or held under the provisions of this Chapter may be sold or exchanged for other securities and the money received from any security sale may be reinvested as provided herein for investments; provided, however, it shall be the duty of the Director of Administr…

No sale or exchange or securities held under the provisions of this Chapter shall be made at a price less than the market price of the securities to be sold or exchanged. SOURCE: GC § 6305. COL1242015

Interest, premiums, and income in any form derived from any securities purchased, held or sold under this Chapter shall be credited to the General Fund of the Treasury of Guam. SOURCE: GC § 6306.

Any money declared to be available under the provisions of this Chapter shall remain such and be available for investment any time within 60 days thereafter, and may be held invested, even though subsequent disbursements from the General Fund may reduce the non- invested General …

In accordance with [United States] P.L. 88-170, as amended, providing for the rehabilitation of Guam, the government of Guam is authorized to make certain loans from the Federal Government. Pursuant to the provisions of said Act, the government of Guam has made, and will in the f…

Money of the General Fund as used in this Chapter shall mean and include those monies of the General Fund of the Treasury of Guam which have not been disbursed, though they may have been appropriated or committed in any other manner. Money of a Special Fund as used in this Chapte…

(a) The Director of Administration may direct that any monies belonging to, and under the control of, the government of Guam, in the hands of the Treasurer shall be deposited to the credit of the government in eligible banks. Any sum so deposited is deemed to be in the Treasury o…

As used in this Chapter, eligible bank shall mean any bank organized and operating under the National Banking Laws as a national bank and approved by the Director of Administration; any bank or territorial bank organized under the laws of any state or territory of the United Stat…

The Director of Administration shall determine what amounts of money shall be deposited as inactive deposits, and as active deposits. SOURCE: GC § 6312.

COL1242015 Deposits or investment certificates insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation do not require further security. To be eligible to receive or retain other active or inactive deposits, an eligible bank shall…

The Director of Administration, the Treasurer of Guam, or any other official of the government of Guam, shall not be responsible for any money deposited in any bank pursuant to this Chapter, and while it remains so deposited. SOURCE: GC § 6314.

(a) Upon audit caused by the Director of Administration, the amounts of all government of Guam checks or drafts which shall have been unclaimed or outstanding for more than one year from the respective dates thereof, shall be accounted for separately and a record made of each suc…

Valuable Property. The officials or employees of the government of Guam shall be held personally responsible and accountable for any monies, grants, grants-in- aid, assistance-in-kind or any valuable property received or accepted from any grantee, donor or contributor, public or …

On or before July 1, 1975, each department, agency and instrumentality of the government of Guam which operates or manages any program or supervises any agency of the Government without statutory authorization, shall report the same to the Legislature and to the Governor of Guam,…

Working in Unauthorized Programs or Agencies of the Government. After September 1, 1975, no employee of any department, agency or instrumentality of the government of Guam who receives his salary in whole or in part from any program or from any department, agency or instrumentali…

The Drivers Education fund is appropriated to the Department of Education for expenditure for safe driving instruction in the public schools. SOURCE: GC § 6319 added by P.L. 16-111:II:19. 2009 NOTE: P.L. 28-045:10 (June 6, 2005) changed the name of the Department of Education to …