11 GCA § 106354: Authority of Territorial Banks to Establish a De Novo Branch or Acquire a Branch Outside Guam.

(a) With the prior approval of the Commissioner, any territorial bank may establish and operate a de novo branch or acquire and operate a branch outside Guam, including in another state.

(b) A territorial bank desiring to establish and operate a de novo branch or acquire and operate a branch under this Section shall comply with, and the application shall be processed in accordance with § 106601 of this Chapter. In acting on the application, the Commissioner shall consider the views of the appropriate bank supervisory agencies. The applicant territorial bank may establish and operate the branch when it has received the written approval of the Commissioner.