11 Guam Code Ann. § 100101
Terms Used In 11 Guam Code Ann. § 100101
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
SOURCE: GC §30000.
§ 100102. Automated Teller Machine (ATM), Bank, Territorial
Bank, Commercial Bank, Savings Bank, State Bank, National Bank.
As used in this Title:
>Automated teller machine= (>ATM=) means a customer/bank communication terminal (>CBCT=) or other such device either
manned or unmanned which may be activated through an accepted card or other means of access to an account at a financial institution, as such terms are defined in 15 U.S. Code § 1693a of the Electronic Funds Transfer Act; or any other electronic terminal or device either manned or unmanned which may be activated by the use of a credit card for the purpose of obtaining credit from the card issuer, as such terms are defined in 15 U.S. Code § 1602 of the Truth in Lending Act, other than a device provided and maintained by the card issuer or under its authority for the sole purpose of electronically
authorizing sales transactions at a merchant=s place of business. A
device shall not be deemed maintained or provided under authority
of the card issuer merely by reason of the fact that credit may be obtained electronically through the device.
COL120106
11 Guam Code Ann. FINANCE & TAXATION
CH. 100 SHORT TITLE, DEFINITIONS AND MISCELLANEOUS
>Bank= or >Commercial Bank,= except as otherwise provided in
this Title, means an officially chartered institution empowered to
receive deposits, make loans, provide checking and savings account services, and/or conduct a general commercial banking activity, organized under strict requirements of either the Federal or a state or territorial government.
>Bank holding company= means a bank holding company as defined in Section 2(a)(1) of the Bank Holding Company Act of
1956, as amended.
>Control= shall be construed consistent with Section 2(a)(2) of the
Bank Holding Company Act of 1956, as amended.
>Customer/bank communication terminal= (>CBCT=) has the meaning set forth in this Section for >automated teller machine= (>ATM=).
>National Bank= means any bank chartered under the national banking laws of the United States.
>Out-of-state bank= has the meaning set forth in §106351 of this
Title.
>Savings Bank= means any bank whose charter limits its powers to accepting deposits to accounts that which may only be withdrawn after notice.
>State Bank= means any bank chartered under the banking laws of one of the states of the United States.
>Territorial Bank= means any bank chartered by Guam.@
SOURCE: GC §30001. Definitions added by P.L. 24-35:2 (5/29/97). Re- pealed/reenacted by P.L. 27-88:3.