It shall be unlawful for any person to operate on Guam on Off- Shore Lending Facility, as defined in § 106604(a) of this Title, without the express written authorization of the Banking and Insurance Board issued pursuant to § 106604(b) of this Title.

SOURCE: GC § 30809.1. Added by P.L. 15-011:1. P.L. 23-127:2 renumbered this section from § 106511 to § 106510.

NOTE: References to the “”Banking Board”” changed to “”Banking and Insurance
Board”” pursuant to P.L. 27-088:10 (May 6, 2004).

§ 106511. Unlawful Solicitation or Negotiation for Off-Shore
Lending Facility Loans.

It shall be unlawful for any person who is an officer, employee or agent in Guam of any bank operating in Guam an Off-Shore Lending Facility, as defined in § 106604(a) of this Title, to actively solicit or negotiate with any person for a loan with that Off-Shore Lending Facility.

SOURCE: GC § 30809.2. Added by P.L. 15-011:2. P.L. 23-127:2 renumbered this section from § 106512 to § 106511.