Guam § 22815 - Authorization for Loans.
Full text of Guam Guam Code Annotated § 22815 — Authorization for Loans., with citation guidance and answers to common questions.
§ 22815. Authorization for Loans.
As authorized in this § 22811, the Governor is authorized to
enter into loan agreements with local banks for the purpose of
paying income tax refunds owed to taxpayers (the Loans). The
terms and conditions of the Loans shall be as negotiated by the
Governor except that
(a) the interest rate thereon shall not exceed a net
effective yield of seven percent (7%) per annum,
(b) the term of the Loans shall not exceed sixty (60)
months, and
(c) interest on the Loans shall be exempt from taxation
by the government of Guam.
2013 NOTE: Pursuant to the authority granted by 1 GCA § 1606, numbers
and/or letters were altered to adhere to the Compiler’s alpha-numeric
scheme.
Frequently Asked Questions About Guam § 22815
What does Guam Code Annotated § 22815 cover?
Section 22815 ("Authorization for Loans.") 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 § 22815?
A common citation format is "Guam Code Annotated § 22815" (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 § 22815 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.