12 GCA § 4507
No Release of Fund until Conditions Met
View official PDF ↗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.
Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.