All monies in the Fund shall be secured by the holding depositary in the manner and to extent required by §21114 of Title 4 Guam Code Ann., and shall be maintained in a separate custody account. The Treasurer of Guam shall be liable on his official bond for the faithful performance of his duties in connection with the Fund. His liability on his official bond shall
be effective immediately upon the enactment of this provision, and this liability shall exist in addition to any liability upon any separate bond extant on the effective date of this provision, or which may be given in the future. All sums recovered on this surety bond for losses sustained by the Fund shall be deposited in the Fund. The cost of premiums for so much of the surety bond as is necessary to provide protection against loss of monies in the Fund may be paid from monies in the Fund.

SOURCE: GC § 44009.

§ 7111. Employment Service Fund: Replacement of Lost
Monies.

If any monies received by Guam pursuant to the provisions of the Wagner-Peyser Act are found by the United States Secretary of Labor to have been lost or to have been expended for purposes other than or in amounts in excess of those found necessary by the United States Secretary of Labor for the proper administration of this Chapter, such lost or improperly expended monies shall be replaced by monies appropriated for such purpose from the General Fund of Guam to the Fund. Upon receipt of such a finding from the United States Secretary of Labor, the Director of Labor shall promptly report the amount required for such replacement to the Governor, and the Governor shall, at the earliest opportunity, submit to the Legislature a request for the appropriation of such amount.

SOURCE: GC § 44010.