12 Guam Code Ann. § 14207
Terms Used In 12 Guam Code Ann. § 14207
- 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
SOURCE: Added by P.L. 28-071:2 (Nov 3, 2005).
§ 14208. Indenture Providing Terms and Conditions of
Bonds.
The Authority 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 interchange 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.
SOURCE: Added by P.L. 28-071:2 (Nov 3, 2005).