4 Guam Code Ann. § 8146
Terms Used In 4 Guam Code Ann. § 8146
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Fund would own:
(a) any combination of obligations of any one political subdivision, corporation or other single issuing entity in excess of five percent (5%) of Fund assets at cost. This limitation shall not apply to general obligations of the United
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4 Guam Code Ann. PUBLIC OFFICERS & EMPLOYEES
CH 8 RETIREMENT OF PUBLIC EMPLOYEES
States, investments authorized under § 8150, or general obligations of the government of Guam.
(b) any combination of investment instruments as covered by § 8151, Subsection (b) of § 8154, Subsection (b) of § 8156, and Subsection (b) of § 8157 in excess of thirty- five percent (35%) of Fund assets at cost.
(c) Obligations or other investments issued or guaranteed by the government of Guam in excess of ten percent (10%) of Fund assets at cost; provided, however, that this limitation shall not apply to such obligations or other investments that are unconditionally guaranteed as to principal and interest by, or supported by lease assignment from, another entity whose principal business is outside of Guam, and whose obligations are authorized investments under §§ 8143 through 8159, inclusive.
SOURCE: GC § 4225.3; Repealed and reenacted by P.L. 22-006:1 (Mar.
29, 1993). Amended by P.L. 32-086:7 (Nov. 27, 2013).