Guam § 36315 - Minimum Net Worth Required.
Full text of Guam Guam Code Annotated § 36315 — Minimum Net Worth Required., with citation guidance and answers to common questions.
§ 36315. Minimum Net Worth Required.
A minimum net worth shall be continuously maintained for mortgage
loan originators in accordance with this Section.
(a) In the event that the mortgage loan originator is an employee or
exclusive agent of a person subject to this Act, the net worth of such
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18 GCA BUSINESS STRUCTURE & FUNCTION
person subject to this Act can be used in lieu of the mortgage loan
originator’s minimum net worth requirement.
(b) Minimum net worth shall be maintained in an amount that
reflects the dollar amount of loans originated, as determined by the
Commissioner.
(c) The Commissioner may promulgate rules or regulations, in
accordance with the Administrative Adjudication Law, with respect to
the requirements for minimum net worth as are necessary to accomplish
the purposes of this Act.
2017 NOTE: Subsection/subitem designations altered pursuant to the authority of
1 GCA § 1606.
Frequently Asked Questions About Guam § 36315
What does Guam Code Annotated § 36315 cover?
Section 36315 ("Minimum Net Worth Required.") 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 § 36315?
A common citation format is "Guam Code Annotated § 36315" (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 § 36315 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.