12 Guam Code Ann. § 4113
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Terms Used In 12 Guam Code Ann. § 4113
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(a) There is transferred to the Housing Corporation the following property: All the assets and property — real, personal and mixed, tangible and intangible — of the Guarantee Fund of the Guam Finance and Development Corporation. The value of the property so transferred shall be fixed at the value shown on the books of the Guam Finance and Development Corporation at the date of transfer.
(b) The Housing Corporation shall assume and discharge all of the liabilities of the Guam Finance and Development Corporation.
(c) The servicing of all loans heretofore granted by the Guam Finance and Development Corporation shall continue to be the responsibility of this Housing Corporation.
SOURCE: GC § 20010.
2017 NOTE: Subitem designation were removed pursuant to the authority granted by 1 Guam Code Ann. § 1606.