12 Guam Code Ann. § 4109
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Terms Used In 12 Guam Code Ann. § 4109
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
To assist in the housing needs of voting residents of Guam who are veterans of the Armed Forces of the United States, who served during the Second World War, during the Korean Conflict, or during the war in Vietnam, and who were honorably discharged from service, the Housing Corporation may make direct loans to such veterans.
(a) Such loans shall be made from the Housing Corporation’s Guarantee Fund and upon such terms and conditions and under such rules and regulations as the Board may prescribe.
(b) It is the intent of the Legislature that such loans may be made to such veterans whether or not adequate financing is available on reasonable terms from a lending agency.
(c) No loan in excess of Sixteen Thousand Dollars ($16,000) shall be made for the construction of a new home provided that up to Two Thousand Dollars ($2,000) of such amount may be used to purchase a homesite.
SOURCE: GC § 20006.
2017 NOTE: Subsection designations added pursuant to the authority of
1 Guam Code Ann. § 1606.