FEDERAL · 48 U.S.C. · Chapter SUBCHAPTER VI—GUAM DEVELOPMENT FUND
Prerequisite for loan or loan guarantee; maximum participation in available funds; reserves for loan guarantees
48 U.S.C. § 1428b
Title48 — Territories and Insular Possessions
ChapterSUBCHAPTER VI—GUAM DEVELOPMENT FUND
This text of 48 U.S.C. § 1428b (Prerequisite for loan or loan guarantee; maximum participation in available funds; reserves for loan guarantees) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
48 U.S.C. § 1428b.
Text
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 maintain
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Related
§ 1428
48 U.S.C. § 1428
Source Credit
History
(Pub. L. 90–601, §4, Oct. 17, 1968, 82 Stat. 1172.)
Editorial Notes
Editorial Notes
Codification
Section was not enacted as part of the Organic Act of Guam which comprises this chapter.
Codification
Section was not enacted as part of the Organic Act of Guam which comprises this chapter.
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Bluebook (online)
48 U.S.C. § 1428b, Counsel Stack Legal Research, https://law.counselstack.com/usc/48/1428b.