An association operating under this Title shall have all the specific powers conferred by this Title and in addition thereto, the following general powers:

To exercise, notwithstanding the provisions of §2105 of Title 18, Guam Code Annotated, all the powers necessary to qualify as a trustee or custodian under the Federal Self-Employed Individuals Tax Retirement Act of 1962, as amended, and the Employee Retirement Income Security Act of 1974; provided that any funds held in such capacity shall be invested only in a savings account or time deposit of the institution.

SOURCE: GC §41603.

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