GroundRules
12 GCA § 4507: No Release of Fund until Conditions Met.
Where this section sits in the code
- Title 12: Autonomous Agencies
- Division 1 - Autonomous Agencies
- Chapter 4: Guam Housing Corporation
- ARTICLE 5: REQUIREMENTS AND REGULATIONS
No funds appropriated towards the program established in this Chapter shall be released by GHC unless one (1) of the following conditions are satisfied:
(a) Local Financial Institutions submit in writing to GHC their intention to participate in one (1) or more of the programs; or
(b) Any Federal Housing Assistance Agency that may participate in one (1) or more of the programs, express its intention, in writing, to underwrite or purchase the local Financial Institution’s participation in such program.
Collected 2026-09-27T03:21:58Z. Source file · JSON