11 Guam Code Ann. § 106132
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Terms Used In 11 Guam Code Ann. § 106132
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(a) Subject to such regulations as the Board may prescribe, a bank, trust company or safe deposit company may maintain and lease safe
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11 Guam Code Ann. FINANCE & TAXATION
CH. 106 BANKS
deposit boxes and may accept property or documents for safekeeping if, except in the case of night depositories, it issues a receipt therefor.
(b) A territorial bank or trust company may own stock in safe deposit companies not exceeding in aggregate cost 15% of its capital and surplus, but at least 90% of the stock in each such safe deposit company must be owned by banks or trust companies.
SOURCE: GC § 30101.