Guam § 4114 - Rental Housing Guarantee.
Full text of Guam Guam Code Annotated § 4114 — Rental Housing Guarantee., with citation guidance and answers to common questions.
§ 4114. Rental Housing Guarantee.
(a) The Housing Corporation is authorized to guarantee
payment of loans in an amount not to exceed seventy-five
percent (75%) of the total development and construction cost of
rental housing under all Federal Housing Administration multi-
family housing programs. Any such project must consist of not
more than ten (10) rental units. The Housing Corporation may
pledge its assets in support of any guarantee hereunder.
(b) The Housing Corporation will provide by regulation for
the implementation of this Section, which regulations shall
provide, without limitation, for submission to the Housing
Corporation of necessary data in support of an application for
guarantee, any charge to be made or security to be furnished with
respect to such guarantee and for the procedure to be followed in
case of default.
COL9/7/2021
(c) The Governor of Guam, with the concurrence of the
Committee on Rules of the Guam Legislature, is authorized to
execute such documents as may be required to assure the
integrity of a guarantee given pursuant to this Section, and, to
that end, may pledge the full faith and credit of the government
of Guam.
(d) In the event of default in payment on any loan
guaranteed, in accordance with applicable regulations, it shall be
the primary responsibility of the Housing Corporation to make
such payments as may be required in support of its obligation, if
the Housing Corporation, for whatever reason, is unable to do so
either in whole or in part, any deficiency therein shall be met by
appropriation.
Frequently Asked Questions About Guam § 4114
What does Guam Code Annotated § 4114 cover?
Section 4114 ("Rental Housing Guarantee.") 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 § 4114?
A common citation format is "Guam Code Annotated § 4114" (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 § 4114 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.