GroundRules
18 GCA § 36315: Minimum Net Worth Required.
Where this section sits in the code
- Title 18: Business Structure and Function
- Division 2 - Commercial and Business Obligations
- Part 2 - Liens
- Chapter 36: Mortgages
- ARTICLE 3: GUAM SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT OF 2010
A minimum net worth shall be continuously maintained for mortgage loan originators in accordance with this Section.
(a) In the event that the mortgage loan originator is an employee or exclusive agent of a person subject to this Act, the net worth of such person subject to this Act can be used in lieu of the mortgage loan originator’s minimum net worth requirement.
(b) Minimum net worth shall be maintained in an amount that reflects the dollar amount of loans originated, as determined by the Commissioner.
(c) The Commissioner may promulgate rules or regulations, in accordance with the Administrative Adjudication Law, with respect to the requirements for minimum net worth as are necessary to accomplish the purposes of this Act.
Collected 2026-09-27T03:56:28Z. Source file · JSON