18 Guam Code Ann. § 13133
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Terms Used In 18 Guam Code Ann. § 13133
- 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.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
The Governor of Guam is hereby authorized to loan to a qualified farmers nonprofit cooperative association or corporation funds to construct and operate a mixed-feed mill, such loan to be under such terms and conditions as are established by the Governor of Guam, except that in no case shall the interest rate exceed two percent (2%) per annum simple interest. There is authorized, to be appropriated to carry out the provisions of this section, not to exceed one hundred thousand dollars ($100,000.00).
SOURCE: CC § 650.33 added by P.L. 9-21 (3/2/67).
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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 13 NONPROFIT COOPERATIVE ASSOCIATIONS
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