Guam § 130104 - Purchases, Sales and Pledges of Loans.

§ 130104. Purchases, Sales and Pledges of Loans.

An association may purchase any notes or other obligations,

together with the mortgages, trust deeds or other security therefor, if such

notes or obligations evidence loans which, at the time of such purchase,

such association would be authorized to make pursuant to this act in an

amount at least equal to the amount so purchased. No association shall

sell, exchange, transfer, pledge, hypothecate or otherwise dispose of or

encumber any notes or other obligations held by it, evidencing any loan

made or purchased by it, or the mortgages, trust deeds or other security

therefor, except with the approval of the commissioner; provided, that

any association may, without the necessity of obtaining such approval,

sell, exchange, transfer, pledge, hypothecate or otherwise dispose of or

encumber any of the notes or other obligations held by it, together with

COL120106

11 GCA FINANCE & TAXATION

CH. 130 INVESTMENTS, LOANS AND BORROWING

the mortgages, trust deeds and other security therefor, to the extent

permitted by Section 130105 or Section 130106 of this act.