14 Guam Code Ann. § 6204
Terms Used In 14 Guam Code Ann. § 6204
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
30th of each year and pay an annual fee of Twenty Dollars ($20.00).
(2) Persons required to file notification who are sellers, lessors or lenders shall pay an additional fee at the time stated in Subsection (1) of Twenty Dollars ($20.00) for each One Hundred Thousand Dollars ($100,000.00) or part thereof, in excess of One Hundred Thousand Dollars ($100,000.00) of the original unpaid balances arising from consumer credit sales, consumer leases and consumer loans, payable in installments, made within the twelve (12) months last preceding June
30th and held by the seller, lessor or lender for more than thirty (30) days
after the inception of the sale, lease or loan giving rise to the obligations. A refinancing of a sale, lease or loan resulting in an increase in the amount of an obligation is considered a new sale, lease or loan to the extent of the amount of the increase.
(3) Persons required to file notification who are assignees shall pay an additional fee at the time stated in Subsection (1) of Twenty Dollars ($20.00) for each One Hundred Thousand Dollars ($100,000.00), or part thereof, in excess of One Hundred Thousand Dollars ($100,000.00), of the unpaid balances at the time of the assignment of obligations arising from consumer credit sales, consumer leases and consumer loans,
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14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 6 ADMINISTRATION
payable in installments taken by assignment within the twelve (12) months last preceding June 30th; provided, that an assignee need not pay a fee with respect to an obligation on which the assignor or other person has already paid a fee.
SOURCE: Amended by P.L. 29-002:V:I:34 (May 18, 2007).
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ARTICLE 3
COUNCIL OF ADVISORS ON CONSUMER CREDIT