Guam § 130117 - Limitation on Loan Commitments.
Full text of Guam Guam Code Annotated § 130117 — Limitation on Loan Commitments., with citation guidance and answers to common questions.
§ 130117. Limitation on Loan Commitments.
Except with the consent of the Commissioner, no association shall
commit itself to make any loans for amounts in excess of the total of (a)
amount of cash available for loan purposes, (b) amount of cash which
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can readily be realized upon the sale of redemption of investments made
pursuant to § 130102 of this Act. (c) amount of credit available for loan
purposes from the Federal Home Loan Bank or other financial
institutions.
Except with the consent of the Commissioner, no association shall
hereafter make any construction loan or loans to any one borrower, or
under any one transaction, or applicable to any one project, which loan or
loans are in excess of whichever of the following is the lesser: (a) ten
percent (10%) of its total assets, or (b) an amount equal to the sum of its
capital, surplus, undivided profits, loan reserve and federal insurance
reserve, and such other reserves as the Commissioner may prescribe;
provided however, that this limitation shall not apply to any of the
following:
(a) Loans upon which associations hold commitments for
insurance by the Federal Housing Administrator, pursuant to §
130120 of this Act, or
(b) Loans which are partially guaranteed by, or insured by, the
Administrator of Veterans Affairs, pursuant to § 130121 of this Act.
(c) Loans which have been repaid or sold without recourse.
Frequently Asked Questions About Guam § 130117
What does Guam Code Annotated § 130117 cover?
Section 130117 ("Limitation on Loan Commitments.") 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 § 130117?
A common citation format is "Guam Code Annotated § 130117" (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 § 130117 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.