Definitions

As used in this Chapter, the following words and phrases, unless differently defined or described, shall have meanings and references as follows:

(a)Corporation means a Territory of Guam industrial development corporation created under this Chapter.

(b)Financial institution means any banking corporation or trust company, savings and loan institution, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds.

(b)Financial institution means any banking corporation or trust company, savings and loan institution, insurance company or related COL 03072011 CH. 12 INDUSTRIAL D EVELOPMENT CORPORATIONS corporation, partnership, foundation, or other institution engaged primarily in lending or investing.

(c)Member means any financial institution authorized to do business within this territory which shall undertake to lend money to a corporation created under this Chapter, upon its call, and in accordance with the provisions of this Chapter.

(d)Loan limit means for any member, the maximum amount permitted to be outstanding at one time on loans made by such member to the corporation, as determined under the provisions of this Chapter.