Guam § 4505 - Performance and Payment Bonds.
Full text of Guam Guam Code Annotated § 4505 — Performance and Payment Bonds., with citation guidance and answers to common questions.
§ 4505. Performance and Payment Bonds.
Contracts for the construction of Homes under the programs
authorized by this Chapter shall require the builder to post one
hundred percent (100%) performance and payment bonds, or the
equivalent in securities, the beneficiaries of which shall be the
Home Owner, the Financial Institution holding the first mortgage
on the Home, and the Government, as the case requires.
Frequently Asked Questions About Guam § 4505
What does Guam Code Annotated § 4505 cover?
Section 4505 ("Performance and Payment Bonds.") is part of the Guam Code Annotated, the codified statutory law of Guam. 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 Guam § 4505?
A common citation format is "Guam Code Annotated § 4505" (Guam). 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 Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 4505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam 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 Guam.