Priority of Preferred Claims

(a) In a delinquency proceeding against an insurer domiciled in Guam, claims owing to residents of ancillary states shall be preferred claims if like claims are preferred under the laws of Guam. All such claims whether owing to residents or non- residents shall be given equal priority of payment from general assets regardless of where such assets are located. (b) In a delinquency proceeding against an insurer domiciled in a reciprocal state, claims owing to residents of Guam shall be preferred if like claims are preferred by the laws of that state. SOURCE: GC § 43230. 2024 NOTE: References to “this territory” replaced with “Guam” pursuant to 1 GCA § 420.