
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 48USC1428b]

 
              TITLE 48--TERRITORIES AND INSULAR POSSESSIONS
 
                            CHAPTER 8A--GUAM
 
                  SUBCHAPTER VI--GUAM DEVELOPMENT FUND
 
Sec. 1428b. Prerequisite for loan or loan guarantee; maximum 
        participation in available funds; reserves for loan guarantees
        
    No loan or loan guarantee shall be made under this subchapter to any 
applicant who does not satisfy the agency or agencies administering the 
plan that financing is otherwise unavailable on reasonable terms and 
conditions. The maximum participation in the funds made available under 
section 1428 of this title shall be limited (a) so that not more than 25 
per centum of the funds actually appropriated by the Congress may be 
devoted to any single project (b) to 90 per centum of loan guarantee, 
and (c) with respect to all loans, to that decree of participation 
prudent under the circumstances of individual loans but directly related 
to the minimum essential participation necessary to accomplish the 
purposes of this subchapter: Provided, That, with respect to loan 
guarantees, the reserves maintained by the agency or agencies for the 
guarantees shall not be less than 25 per centum of the guarantee.

(Pub. L. 90-601, Sec. 4, Oct. 17, 1968, 82 Stat. 1172.)

                          Codification

    Section was not enacted as part of the Organic Act of Guam which 
comprises this chapter.
