11 Guam Code Ann. § 35104
Terms Used In 11 Guam Code Ann. § 35104
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
(b) Receiving security for loans;
(c) Acquiring by assignment or otherwise partial or entire interests in loans or in security for loans;
(d) Servicing (but servicing only by or through individuals who are residents of, or corporations doing business in, Guam), collecting, enforcing, or otherwise realizing upon loans or upon security for loans or upon interests therein; and taking, holding, and disposing of any property acquired (whether by purchase at any sale pursuant to foreclosure, by entry, or by conveyance in lieu of foreclosure) in enforcement of the rights of the American lender in the event of default by any borrower; and
(e) Empowering agents and servants in connection therewith, and entering into and performing contracts, and doing other acts and
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things necessary or appropriate for or preliminary or incident to, any of the foregoing activities, but not maintaining any office in Guam for the conduct of such activities.
SOURCE: GC § 43600.3.