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48 U.S.C. · Territories and Insular Possessions
48 U.S.C. § 1428a

Submission of plan for use of funds; contents of plan; term, interest rate, and premium charge of loan

Ch. 8A — GUAM
Title 48 U.S.C. ● ACTIVE Primary Source Ch. 8A
Statutory Text

48 U.S.C. § 1428a — Submission of plan for use of funds; contents of plan; term, interest rate, and premium charge of loan

U.S.C. Title 48 - TERRITORIES AND INSULAR POSSESSIONS 48 U.S.C. United States Code, 2023 Edition Title 48 - TERRITORIES AND INSULAR POSSESSIONS CHAPTER 8A - GUAM SUBCHAPTER VI - GUAM DEVELOPMENT FUND Sec. 1428a - Submission of plan for use of funds; contents of plan; term, interest rate, and premium charge of loan From the U.S. Government Publishing Office, www.gpo.gov

§1428a. Submission of plan for use of funds; contents of plan; term, interest rate, and premium charge of loan

Prior to receiving any funds pursuant to this subchapter the government of Guam shall submit to the Secretary of the Interior a plan for the use of such funds which meets the requirements of this section and is approved by the Secretary. The plan shall designate an agency or agencies of such government as the agency or agencies for the administration of the plan and shall set forth the policies and procedures to be followed in furthering the economic development of Guam through a program which shall include and make provision for loans and loan guarantees to promote the development of private enterprise and private industry in Guam through a revolving fund for such purposes: Provided, That the term of any loan made pursuant to the plan shall not exceed twenty-five years; that such loans shall bear interest (exclusive of premium charges for insurance, and service charges, if any) at such rate per annum as is determined to be reasonable and as approved by the Secretary, but in no event less than a rate equal to the average yield on outstanding marketable obligations of the United States as of the last day of the month preceding the date of the loan, adjusted to the nearest one-eighth of 1 per centum, which rate shall be determined by the Secretary of the Treasury upon the request of the authorized agency or agencies of the government of Guam; and that premium charges for the insurance and guarantee of loans shall be commensurate, in the judgment of the agency or agencies administering the fund, with expenses and risks covered.

(Pub. L. 90–601, §3, Oct. 17, 1968, 82 Stat. 1172.)

Editorial Notes

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

Source: uscode.house.gov — public domain Official Source ↗
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◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
Federation ID
BS-USC48-SEC-28AD50
Entity Class
STATUTE / FEDERAL-CODE-SECTION
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boisestandard.org
Citation
48 U.S.C. § 1428a
Jurisdiction
Federal — United States
Status
✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
62caac99dc8b4d8a...
Semantic Edges
Pending — corpus passes queued
The statutory text of 48 U.S.C. § 1428a is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 48 U.S.C. § 1428 48 U.S.C. § 1428b →
Ch. 8A — GUAM
48 U.S.C. § 142148 U.S.C. § 1421a48 U.S.C. § 1421b48 U.S.C. § 1421c48 U.S.C. § 1421d48 U.S.C. § 1421e48 U.S.C. § 1421f48 U.S.C. § 1421f148 U.S.C. § 1421g48 U.S.C. § 1421h48 U.S.C. § 1421i48 U.S.C. § 1421j48 U.S.C. § 1421k48 U.S.C. § 1421k148 U.S.C. § 1421l48 U.S.C. § 1421m48 U.S.C. § 1421n48 U.S.C. § 1421o48 U.S.C. § 1421p48 U.S.C. § 1421q48 U.S.C. § 1421q148 U.S.C. § 1421r48 U.S.C. § 142248 U.S.C. § 1422a48 U.S.C. § 1422b48 U.S.C. § 1422c48 U.S.C. § 1422d48 U.S.C. § 142348 U.S.C. § 1423a48 U.S.C. § 1423b
48 U.S.C. — public domain ← All Legislation
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boisestandard.org → United States → Law → U.S. Code → Title 48 → 48 U.S.C. § 1428a