Borrowing

11 GCA § 106179 — under Banks.

11 GCA § 106179

A bank may borrow money and issue evidence of indebtedness for a loan for temporary purposes in an amount not exceeding its capital and surplus or in such larger amount or for such other purposes as the Commissioner approves. Debentures issued by a territorial bank may not be retired without the approval of the Commissioner and they shall so provide in express terms. SOURCE: GC § 30308.