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Can you summarize 106503.?

Prohibited Practices, Sanctions > Receipt of Deposits While Insolvent.

Short Summary

It shall be unlawful for a bank to receive any deposit while insolvent or for an officer, director or employee who knows or, in the proper performance of his duty, should know of such insolvency to receive or authorize the receipt of such deposit. SOURCE: GC 30802.

Jurisdiction

Guam

Source
106503. [https://reggi.cloud.regology.com/regulations/US-GU-GCA/US-GU-GCA_T_11_D_4_C_106_A_5_S_106503]