Title 11 — Finance and Taxation

No association shall make or purchase any investments or loans except investments or loans authorized or permitted by this act. Nothing contained in this act shall require any association to sell, transfer or dispose of any investment or loan heretofore made or purchased by such …

An association may invest in buy and sell the following: (1) Real property used or to be used primarily as the principal office or branch of such association. provided, that no association shall invest in such real property more than one-half (1/2) of the sum of its aggregate pai…

Any association may purchase at any sale, public or private, any real or personal property upon which it may have a mortgage, judgment, trust deed, pledge, lien or other encumbrance, or in which it may have an interest, and may acquire any real or personal property which may be c…

An association may purchase any notes or other obligations, together with the mortgages, trust deeds or other security therefor, if such notes or obligations evidence loans which, at the time of such purchase, such association would be authorized to make pursuant to this act in a…

No association shall be deemed to borrow money through the issuance of investment certificates. No association shall borrow money except as authorized by this chapter. Except with the approval of the commissioner, no association may borrow money for a period of more than one year…

Agencies. An association may borrow from or sell, exchange, transfer, pledge, hypothecate or otherwise encumber or dispose of any of the notes or obligations held by it, together with the mortgages, trust deeds and other security therefor to a Federal home loan bank or other simi…

For each loan made by a savings and loan association a note or notes or other obligation or obligations expressing a rate of interest must COL120106 be executed by the borrower and must be secured, except as otherwise permitted under Section 130120 or 130121, (a) by a first mortg…

Loans may be made only upon the definite contract plan. Subject to the provisions of this act loans upon the definite contract plan shall be repayable at a designated time or in installments to be specified in the notes or other obligations evidencing such loans. SOURCE: GC §4145…

For the purpose of this act, an amortized loan shall be one which provides for payments to be made on the principal in installments to be paid at regular intervals at least semiannually and to commence not later than one year after the date of the loan. Such installments may incl…

Account. An association shall pay interest at a rate not less than that paid on regular passbook savings accounts as calculated by the individual savings and loans on Guam on home mortgage escrow accounts. SOURCE: GC §41458.1. Added by P.L. 15-95:2. COL120106

Loans may be made upon the security of improved real property in an amount not in excess of 60 percent of the appraised value of such real property; provided, however, that amortized loans may be made in an amount not in excess of 70 percent of the appraised value of such real pr…

Loans secured by the pledge of shares or investment certificates of the lending association may be made to the extent of not more than 90 per cent of the then value of such shares or investment certificates. Any loans which are wholly secured by the pledge of such shares or inves…

Loans may be made by any association secured by the pledge of notes or other obligations evidencing loans which are secured by property or securities upon which the association might make a direct loan, if such collateral loans do not exceed 90 per cent of whichever of the follow…

COL120106 Whenever a borrower shall be in arrears in the payment of his interest or loan installments, or shall be in default under the terms of any pledge, deed of trust or mortgage securing his loan, the whole loan shall become due at the option of the association, and the asso…

No association shall make any loan other than an amortized loan unless at least ninety per cent of the unpaid principal of all its loans then in force be amortized loans as defined in Section 130109 of this act, and no association shall make any loan other than an amortized loan …

Except with the consent of the Commissioner, no association shall hereafter make any one loan in an amount exceeding three percent (3%) of the book value of its assets; but the provisions of this section shall not apply to any loans which do not exceed twenty thousand dollars ($2…

Except with the consent of the Commissioner, no association shall commit itself to make any loans for amounts in excess of the total of (a) amount of cash available for loan purposes, (b) amount of cash which COL120106 can readily be realized upon the sale of redemption of invest…

No loan shall be made upon the appraisement of, nor shall compensation for any appraisement be paid to, any appraiser, officer or member of any committee, who shall not have been first approved in writing by the board of directors for such association. Such approval may be subjec…

No loans shall be made, for himself or as agent or as partner of another, directly or indirectly, to any director or officer of any association by such association, except on the security of a first lien on the home or combination of home and business property owned and occupied …

An association (a) either with or without security, may make loans, advance credit, and purchase obligations representing loans and advances of credit, pursuant to Title 1 of the National Housing Act, as amended, if the Federal Housing Administrator shall insure such association …

Notwithstanding anything to the contrary contained in this act, (a) if a portion of a loan secured by real property is guaranteed by the Administrator of Veteran’s Affairs under Title 3 of the "Servicemen’s Readjustment Act of 1944" or any act of Congress supplementary or amendat…