12 Guam Code Ann. § 10208
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Terms Used In 12 Guam Code Ann. § 10208
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
The Authority, subject to the approval of I Liheslaturan Guåhan in addition to this Article, may enter into indentures providing for the aggregate principal amount, date or dates, maturities, interest rates or methods for determination thereof, denominations, form, registration, transfer and exchange of any bonds and coupons issued pursuant to this Article and the terms and conditions on which the same shall be executed, issued, secured, sold, paid, redeemed, funded and refunded. Each taker and subsequent holder of the bonds or coupons, whether the coupons are attached to or detached from the bonds, has recourse to all the provisions of the indenture and of this Article and is bound thereby.
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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 10 PORT AUTHORITY OF GUAM
SOURCE: Added by P.L. 13-087:1 (Oct. 31, 1975) as GC § 14057. Codified as
12 Guam Code Ann. § 10208. Repealed and reenacted by P.L. 34-070:2 (Dec. 7, 2017).
2017 NOTE: This provision was originally named Issues, Series and Divisions of Bonds, which was reenacted by P.L. 34-070:2 (Dec. 7, 2017) as 12 Guam Code Ann. § 10209, Issues of Bonds.