Guam § 130105 - Borrowings.
Full text of Guam Guam Code Annotated § 130105 — Borrowings., with citation guidance and answers to common questions.
§ 130105. Borrowings.
No association shall be deemed to borrow money through the
issuance of investment certificates. No association shall borrow money
except as authorized by this chapter. Except with the approval of the
commissioner, no association may borrow money for a period of more
than one year, nor shall the aggregate amount of all borrowing of any
association in force at any one time, excluding borrowing from Federal
home loan banks, or other similar Federal agencies, exceed five per cent
of the then total assets of such association. No excess loan made to any
association, however, shall be invalid or illegal as to the lender. An
association, as security for such borrowing, may pledge, hypothecate or
otherwise encumber any of the notes, bonds or other securities held by
such association, together with the mortgages, trust deeds and other
security therefor; provided, that except with the approval of the
commissioner, the unpaid principal amount of such notes, bonds or other
securities when so pledged, hypothecated or otherwise encumbered shall
not exceed two hundred per cent of the amount borrowed by such
association.
Frequently Asked Questions About Guam § 130105
What does Guam Code Annotated § 130105 cover?
Section 130105 ("Borrowings.") 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 § 130105?
A common citation format is "Guam Code Annotated § 130105" (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 § 130105 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.