11 Guam Code Ann. § 139102
Current as of: 2023 | Check for updates
|
Other versions
All officers, employees and agents of each association, having access to moneys or negotiable securities of such association in the regular discharge of their duties, or issuing stock, shares or investment certificates of such association in the regular discharge of their duties, before entering upon their duties and throughout the entire term of their office and employment and any subsequent term thereof, shall furnish to the employing association a good and sufficient bond indemnifying such association against loss of money or other securities by reasons of any dishonesty on the part of such officers or employees and by reason of any loss arising from any dishonest issue of stock, shares or investment certificates on the part of such officers or employees. The commissioner shall prescribe the amount and form of said bond and the term during which it shall run, and the sufficiency of the surety or sureties thereon shall at all times be subject to the approval of the commissioner. Each of such officers and employees shall renew his bond upon the expiration of its term. The commissioner may at any time require an additional bond or surety when in his opinion any such bond then in force is insufficient. All such bonds shall be filed in the commissioner’s office.
SOURCE: GC §41601.