Loans Secured by Mortgages on Real Property and Acceptance of Assignments of

Mortgages Covering Real Property in Guam. Nothing in this Chapter shall be deemed to prohibit a foreign banking corporation which does not maintain an office in Guam for the transaction of business from making loans in Guam secured by mortgages on real property or from accepting assignments of mortgages covering real property situated in Guam. SOURCE: GC § 30928. Added by P.L. 13-111:5 (Dec. 11, 1975). 2025 NOTE: References to “Territory” replaced with “Guam” pursuant to 1 GCA 420. COURT DECISIONS: The banking laws addressing the conduct and activities of foreign banks do not require foreign banks, without offices on Guam, to obtain licenses, necessary for broader financial activities, in order to enter loans secured by Guam real property. This transaction is specifically exempted from such licensing requirements under 11 GCA § 106730. EIE Guam Corp., et al. v. The Long Term Credit Bank of Japan, Ltd., et al., 1998 Guam 6 ¶14.