11 Guam Code Ann. § 106308
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Terms Used In 11 Guam Code Ann. § 106308
- 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
(a) A resulting territorial or national bank shall be considered the same business and corporate entity as each merging territorial bank or as the converting territorial bank with all the property, rights, powers, duties and obligations of each merging bank or the converting bank, except as affected by Guam law in the case of a resulting territorial bank or the Federal law in the case of a resulting national bank, and by the charter and by-laws of the resulting bank.
(b) A resulting bank shall have the right to use the name of any merging bank or of the converting bank whenever it deems it more convenient to do so.
(c) Any reference to a merging or converting bank in any writing, whether executed or taking effect before or after the merger or conver- sion, shall be deemed a reference to the resulting bank if not inconsistent with the other provisions of such writing.
SOURCE: GC § 30607. Subsection (a) amended by P.L. 24-035:11 (May 29,
1997).