11 GCA § 106601: Branch Banks.

(a) As used in this Article, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:

(1) “Branch” means a place of business of a bank, other than the bank’s main office, at which deposits are received, loan payments are received, cash is dispensed or money is lent. A customer-bank communication terminal, also commonly known as an “automated teller machine,” or “ATM,” is not a branch.

(2) “Out-of-state bank” has the meaning set forth in §106351 of this Chapter.

(3) “Interstate merger transaction” has the meaning set forth in §106351 of this Chapter.”

(b) A bank engaging in the banking business in Guam pursuant to the provisions of this Title may operate one (1) or more branches within Guam, and, subject to the approval of the Banking and Insurance Board, may establish or acquire additional branches upon showing that

(1) there is sufficient need for such branch,

(2) the proposed branch has reasonable opportunity to be economically self-sustaining, and

(3) the applicant demonstrates by clear and convincing evidence that the establishment and operation of such branch will promote community reinvestment and fair lending.

(c) The application to establish any branch bank shall be considered by the Board after a public hearing at which all interested parties may present their comment.

(d) No out-of-state bank having a branch office in Guam as of the effective date of this Act may establish any additional branches except and until it engages in an interstate merger transaction with a territorial bank.

(e) Installing additional customer-bank communication terminals at a bank’s main office or existing branches shall not be considered as the establishment of an additional branch.

(f) Every application for an additional branch, relocation of a branch or closing of a branch is subject to a licensing fee of Five Hundred Dollars ($500.00) and such license shall be subject to an annual renewal.