Guam § 60306 - Repayment and Refinancing.
Full text of Guam Guam Code Annotated § 60306 — Repayment and Refinancing., with citation guidance and answers to common questions.
§ 60306. Repayment and Refinancing.
(a) Loans made under § 60301 shall be repaid in accordance
with a payment plan specified by the Department with payments
applied first to the interest and then to the principal.
(b) Additional payments in any sums, or the payment of the
entire principal may be made at any date within the time period of
the loan.
(c) The Department may, for satisfactory cause and at its
discretion, extend the time within which the installment payment
on the principal may be paid for a period not to exceed one year.
(d) For loans made for crops, poultry and livestock requiring
six months or more before maturing or in production, the
Department may defer the first payment of the principal until the
crop, poultry or livestock matures or is in production, but not to
exceed one year.
Frequently Asked Questions About Guam § 60306
What does Guam Code Annotated § 60306 cover?
Section 60306 ("Repayment and Refinancing.") 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 § 60306?
A common citation format is "Guam Code Annotated § 60306" (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 § 60306 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.