Guam Administrative Code

§ 2206. Construction. Unless specifically stated otherwise, in these rules and regulations pronouns of either gender apply equally to the other gender, the singular of a noun includes the plural and the plural includes the singular, and phrases in the conjunctive include the disj…

§ 2207. Entitlement to Assistance. Eligible applicants engaged in eligible transactions may receive assistance under the First-Time Homeowner Assistance Program.

§ 2208. Eligibility Criteria. Subject to the requirements of § 4703 of Article 7, Chapter C H . 2 G UAM H OUSING C ORPORATION 18 4, Title 12 of the Guam Code Annotated, United States citizens and permanent resident aliens who are residents of Guam are eligible for assistance.

§ 2209. Who is a Resident of Guam. (a) For purposes of this program, a resident of Guam is a United States citizen or permanent resident alien who has been a bona fide resident of Guam for not less than five (5) years immediately preceding the commencement date of the eligible tr…

§ 2210. Preference. (a) Demand for assistance by United States citizens shall be satisfied before considering applications for assistance from otherwise eligible permanent resident aliens. (b) Order. Applications for assistance shall be considered in the order received by the GHC…

§ 2211. When Demand is Satisfied. Demand for assistance by United States citizens shall be deemed satisfied when there remains funds available to award assistance to a permanent resident alien after subtracting from the program funds the amount of all acceptable and payable appli…

§ 2212. Affidavit of Occupancy. Within six (6) months of the completion of the eligible transaction, an applicant must file with the GHC an affidavit, in a form approved by the GHC, evidencing their occupancy of the home to which the application relates as the applicant’s princip…

§ 2213. Eligible Transaction Amount. The amount of an eligible transaction shall be no more than Two Hundred Fifty Thousand Dollars ($250,000), inclusive of any down payment, land purchase cost and closing cost. (a) Adjustment. The amount of an eligible transaction may be raised …

§ 2214. Application for Assistance. (a) Applications for assistance under the program must be made on forms, and in the manner, provided by the GHC. (b) Approved Forms are Appended Hereto. Forms are subject to revision and amendment as deemed necessary by the Guam Housing Corpora…

§ 2215. Time for Application. (a) Applications for assistance can be made on or after the commencement date of the eligible transaction and before the eligible transaction is completed. (b) Applications Out of Time. In no event may an application for assistance made before the co…

§ 2216. Disqualification from the Program. C H . 2 G UAM H OUSING C ORPORATION 21 Any applicant who intentionally supplies false information as part of the application for assistance shall be disqualified from assistance under the program. (a) Recovery of Disbursed Funds. If the …

§ 2217. Denial of an Application. Where the GHC denies an application for assistance, it shall give notice to the applicant within thirty (30) days following the date of receipt of the application. (a) Notice. Notice to an applicant is deemed complete upon actual service to the a…

§ 2218. Participation of Financial Institution. The Guam Housing Corporation shall develop and maintain a list of financial institutions authorized to participate in this C H . 2 G UAM H OUSING C ORPORATION 22 program. Each such financial institution must be an approved Freddie M…

§ 2219. Certificate of First-time Homeownership. (a) GHC shall issue a Certificate of First-time Homeownership (Certificate) to eligible applicants. Eligible Applicants are those applicants that meet the requirements of Article 3 of these Rules and Regulations. (b) Transferabilit…

§ 2220. Amount of Assistance. The amount of the First-time Homeowner Assistance is four percent (4%) of the eligible transaction. (a) Payment of Assistance. First-time Homeowner Assistance shall be paid by electronic funds transfer, by check, or in any other way the GHC finds app…

§ 2221. Funding. The GHC shall provide the funding source for the First-time Homeowner Assistance Program from its current revenues and/or income. (a) Funding Source. Five Hundred Thousand Dollars ($500,000) is appropriated from the GHC annual revenues and/or income to the Fund a…

§3101. Title. These rules be known as the Astumbo Subdivision Rules and Regulations.

§3102. Authority. These rules and regulations are promulgated pursuant to the provisions of 12 GCA §5411.

§3103. Purpose . The purpose of these rules and regulations is to provide uniform procedures regulating the disposition of government land in the Astumbo Subdivision as defined in Article 4, Chapter 5, 12 GCA.

§3104. Definitions . For the purpose of these rules and regulations, the following general definitions shall apply: (a) Authority means the Guam Housing and Urban Renewal Authority. (b) Board means the Board of Commissioners of the Guam Housing and Urban Renewal Authority. (c) Ru…

§3105. Qualifications. An applicant must be a bona- fide resident of Guam, of legal age, and must fall within one (1) of the preference categories of Section VI below.

§3106. Preferences. Selection of purchasers to Astumbo Subdivision lots shall be in accordance with the following preferences: (a) First preference shall be given to: (1) those families who were, on August 25, 1978, residing within the subdivision area under a Land Management Lan…

§3107. Applications. (a) Form . All applicants shall complete and submit application forms prescribed by the Authority. Except for First Preference A applicants, the Authority shall require a sworn statement as to such applicant's ownership of land in Guam or elsewhere. (b) Perio…

§3108. Application Evaluation. The Community Development Division shall evaluate each application and submit each application determined eligible to the Board for review and approval.

§3109. Purchase Requirements. (a) The purchase price of the lot is Two Thousand Five Hundred Dollars ($2,500). (b) The minimum down payment is One Thousand Five Hundred Dollars ($1,500) of the purchase price. CH. 3 - GHURA - 1997 - P. 4 (c) The balance of $1,000 may be amortized …

§3110. Status Report. The Manager shall submit a quarterly report to the Executive Director regarding the status of the program, and shall further submit a summary report when the last subdivision lot is sold.

§ 3111. Record Keeping/Record Management. The Manager shall keep on file all contracts and other relevant data relative to each buyer.

§3112. Accounting. The Comptroller of the Authority shall keep and maintain accounts for all revenues received from the sales of all Astumbo Subdivision lots.

§3113. Contract Default. Land reverted to the Authority shall be made available to other qualified applicants under 12 GCA Chapter 5, Article 4.

§3114. Administration. (a) The Manager shall expeditiously proceed to execute the processing of the applications as follows: (1) The award of lots to eligible applicants shall be made to those families who were on August 25, 1978 residing within the subdivision area under a Land …

§3115. Contract for Sale. Upon the approval of an application by the Board and the purchaser having tendered the required payments, the Authority shall issue a contract of sale agreement to the purchaser pursuant to the governing provisions of the subdivision.

§3116. Grand Deed. Upon satisfaction of the terms and conditions of the contract of sale, the Authority shall convey to the purchaser title to the property by Grand Deed.

§3117. Instrument of Conveyance. The Authority in any instrument of conveyance to the purchaser shall provide such purchaser shall be without the power to sell, lease or otherwise transfer the real property. The Authority may provide, in any such instrument of conveyance, that su…

§3118. Relocation Assistance. Relocation assistance under 12 GCA §5401. shall be limited to families or single persons residing within the Astumbo Subdivision under a Land Management Land Use Permit who are displaced by the construction of the subdivision. (a) Any displaced perso…

§5101. Rules and Regulations by Reference. The Building Law Regulations are incorporated herein by reference. (The Building Law Regulations can be found in Title 22, Public Works, Chapter 1, Subchapter C, Guam Administrative Rules.) ___________

§1101. Licenses: Certificate of Authority. (Legal Authority: 22 GCA §§15103, 18305, 15402, 15403, 15502, 15505 Insurance Law.) (a) Domestic Insurance Company . Domestic insurers, in order to obtain a Certificate of Authority, shall file with the Commissioner the following: (1) Ap…

§1102. Same: General Agent's License. (Legal Authority: 22 GCA §§15402, 15502, 15702, 15704, 15705 Insurance Law.) In addition to Form I-5 which is filed with an application for a Certificate of Authority, in order to obtain a General Agent's License, there shall be filed with th…

§1103. Same: Subagent's License. (Legal Authority: 22 GCA §§15701, 15702, 15704, 15705 Insurance Law.) In order to obtain a Subagent's License, there shall be filed with the Commissioner the following: (a) Application for Subagent's License (Form I-10). CH. 1 - INSURANCE - 1997 -…

§1104. Same: Solicitor's License . (Legal Authority: 22 GCA §§15701, 15702, 15704, 15705 Insurance Law.) In order to obtain a Solicitor's License, there shall be filed with the Commissioner the following: (a) Application for Solicitor's License (Form I-11). (b) Appointment of Sol…

§1105. Same: Cancellation of License Upon Termination of Appointment. (Legal Authority: 22 GCA

§1106. Same: Forms. Forms I-10, I-11, I-12 and I-13, which are attached hereto and are made a part hereof are adopted as a regulation and the information contained therein, where applicable is required for all persons applying for General Agent's, Subagent's and Solicitor's Licen…

§1107. Same: Licensing Forms. Forms to be used in conjunction with licensing regulations of the Insurance Law are listed as follows: (a) Application for Certificate of Authority Form I-1 (b) Agreement and Power of Attorney Form I-2 (c) Insurance Company's Bond Form I-3 (d) Deposi…

§1108. Approval of Forms: Legal Authority . Legal authority cited for approval of Forms 22 GCA §18308 Insurance Law. These Regulations shall govern the filing with the Commissioner of policy forms (except surety bond forms), application forms, printed riders and endorsement forms…

§1109. Same: Filing - Bureau Members. The filing with the Commissioner of policy forms, application forms, printed riders and endorsement forms made by rating bureaus whose charter, articles of incorporation, rules and regulations give them control over such forms and riders to b…

§1110. Same: Filing - For Insurers, Not Bureau Members. Any insurer not a member or subscriber of a rating bureau shall file with the Commissioner, every policy form (other than surety bond forms) application forms, written riders and endorsement forms which it intends to use.

§1111. Same: Filing Procedure. The filing with the Commissioner of policy forms, application forms, written riders and endorsement forms shall be made as follows: (a) Every filing shall be accompanied by a transmittal letter indicating the following: CH. 1 - INSURANCE - 1997 - P.…

§1112. Same: Duration of Binders. (a) The duration of binders shall be limited according to the following: (1) Written binder shall have a maximum duration of thirty (30) days. (2) Oral binders shall have a maximum duration of five (5) days. (b) In the case of both written and or…