{"data":{"id":"us-gu/18-gca-17604","jurisdiction":"us-gu","citation":"18 GCA § 17604","heading":"Security Interest and Set-Off.","body":"(a) A member or transferee may create an enforceable security interest in its financial rights in a limited cooperative association.\n(b) Unless the organic rules otherwise provide, a member may not create an enforceable security interest in the member’s governance rights in a limited cooperative association.\n(c) The organic rules may provide that a limited cooperative association has a security interest in the financial rights of a member to secure payment of any indebtedness or other obligation of the member to the association. A security interest provided for in the organic rules is enforceable under, and governed by, 13 GCA Division 9 of the Uniform Commercial Code of Guam.\n(d) Unless the organic rules otherwise provide, a member may not compel the limited cooperative association to offset financial rights against any indebtedness or obligation owed to the association.","path":["Title 18: Business Structure and Function","Division 1 - Business Structure","Part 2 - Special Corporate Forms","Chapter 17: Guam Uniform Limited Cooperative Association Act","ARTICLE 6: MEMBER’S INTEREST IN LIMITED COOPERATIVE ASSOCIATION"],"source_url":"https://col.guamcourts.gov/sites/default/files/18gc017.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:54:38Z","sha256":"2e7c9d7d311e2e94bda421a327df533d33df6fad9427adc5e280856685551b0f","source_id":"us-gu","stale":false,"prev":"us-gu/18-gca-17603","next":"us-gu/18-gca-17605"},"notice":"GroundRules: Original legal text. Not legal advice."}