American Samoa § 24.2005 - Loan agreement.
Full text of American Samoa American Samoa Code Annotated § 24.2005 — Loan agreement., with citation guidance and answers to common questions.
§ 24.2005. Loan agreement.
(a) Each loan shall be made upon the basis of a written loan agreement signed by the borrower and the matai controlling the family land if family land is involved. (b) The loan agreement shall specify the obligations assumed by the borrower, which may include farming practices to be followed, marketing controls, and limitations on the portion of the crop produced with the loan that may be used by the borrower or the matai. The loan agreement shall also specify the rights of the director, which shall include the right to inspect and give production, harvesting, and marketing directions, and the right to take possession of the land in the event of a default in payment of the loan and to use the land through agents or lessees for the time necessary to grow and market crops with a net value equal to the unpaid balance due on the defaulted loan.
Frequently Asked Questions About American Samoa § 24.2005
What does American Samoa Code Annotated § 24.2005 cover?
Section 24.2005 ("Loan agreement.") is part of the American Samoa Code Annotated, the codified statutory law of American Samoa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite American Samoa § 24.2005?
A common citation format is "American Samoa Code Annotated § 24.2005" (American Samoa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of American Samoa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the American Samoa official source linked on this page or consult a licensed American Samoa attorney.
How does American Samoa § 24.2005 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in American Samoa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in American Samoa.