Guam § 113103 - Statement of Purposes.
Full text of Guam Guam Code Annotated § 113103 — Statement of Purposes., with citation guidance and answers to common questions.
§ 113103. Statement of Purposes.
The purposes of each domestic association hereafter incorporated,
as stated in its articles of incorporation, shall include the statement that it
is formed to encourage industry, frugality, home building and the
accumulation of savings (and such statement shall add either among its
members, among its certificate holders, or among its members and
certificate holders, and may also add and among others); the
accumulation of savings; the loaning of the moneys or funds so
accumulated, with the profits and earnings thereon, (and such statement
shall add either to its members, to its certificate holders, or to its
members and certificate holders, and such statement may also add and to
others); and, subject to provisions contained in or authorized by this Act,
the repayment (and such statement shall add either to each member, to
each certificate holder, or to each member or certificate holder) of his
savings and profits, whenever they have accumulated to the full par value
(and such statement shall add either of his shares, of his investment
certificates, or of his shares or investment certificates), or at any time
when he shall desire to withdraw the same or when the association shall
desire to repay the same; and may also state that it formed for any or all
of the purposes specified in this Act; and notwithstanding any thing to
the contrary in the statutes of Guam, any association in any of its
advertisements may set forth any of the foregoing purposes.
The articles of incorporation of each domestic association shall state
whether such association is formed for the purpose of issuing stock, or
shares and stock; and shall also state either that such association is
formed for the purpose of issuing investment certificates, or that such
association is not formed for such purpose. Such articles of incorporation
may also include any other provisions which are not in conflict with the
law.
Frequently Asked Questions About Guam § 113103
What does Guam Code Annotated § 113103 cover?
Section 113103 ("Statement of Purposes.") 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 § 113103?
A common citation format is "Guam Code Annotated § 113103" (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 § 113103 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.