Guam § 130103 - Acquisition, Disposition and Encumbrance of Property.

§ 130103. Acquisition, Disposition and Encumbrance of Property.

Any association may purchase at any sale, public or private, any real

or personal property upon which it may have a mortgage, judgment, trust

deed, pledge, lien or other encumbrance, or in which it may have an

interest, and may acquire any real or personal property which may be

conveyed or transferred to it in full or partial satisfaction, discharge or

release of loans for which such property is security. Any association may

sell, convey, lease, exchange, improve, repair, mortgage, convey in trust,

pledge or encumber any real or personal property purchased or acquired

by it in the manner authorized or permitted by this section; provided,

however, that except with the consent of the commissioner, no

association shall mortgage, convey in trust, pledge, or encumber any

property owned by it and used primarily as the principal office or branch

of such association; and provided further, that, except with the consent of

the commissioner, no association shall (a) exchange any real property

owned by it for any property other than investments expressly permitted

by Section 130102 of this act, or real property, nor (b) mortgage, convey

in trust or encumber any real property owned by it nor (c) assume the

payment of any mortgage or deed of trust upon any real property

received by it in any such exchange.