American Samoa § 28.1102 - Regulations of business.
Full text of American Samoa American Samoa Code Annotated § 28.1102 — Regulations of business., with citation guidance and answers to common questions.
§ 28.1102. Regulations of business.
A savings and loan institution may not do business in American Samoa unless: (1) it is a corporation organized under the savings and loan laws of the United States (12 U.S.C. § 1461 et seq.), or under the savings and loan laws of a state or territory of the United States, or the general corporation laws of American Samoa (30.0101 et seq.) for the exclusive purpose of engaging in the general business of savings and loan Banking business; (2) it is a member of the Federal Savings and Loan Insurance Corporation; (3) it has been approved by the Federal Home Loan Bank Board, if a federal savings and loan association; (4) it has obtained the approval of the proper official of the state, or territories if a state or territorial savings and loan; (5) it shall have been authorized and licensed to conduct the business of savings and loan Banking in American Samoa by the Territorial Planning Commission and Governor of American Samoa; (6) if a state or Territory savings and loan, the charter, statutes, and rules under which it operates have been examined and found adequate by the Territorial Planning Commission and the Governor of American Samoa; and (7) it reserves 50 percent of its deposits generated from within the Territory to mortgage loans to be loaned here in the Territory. This subsection specifically applies to all institutions regulated by this chapter, whether in place in the Territory when this act is effective or hereafter admitted.
Source: official American Samoa text · Last verified 2026-08-27
Frequently Asked Questions About American Samoa § 28.1102
What does American Samoa Code Annotated § 28.1102 cover?
Section 28.1102 ("Regulations of business.") 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 § 28.1102?
A common citation format is "American Samoa Code Annotated § 28.1102" (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 § 28.1102 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.