Representing or Aiding Insured in Effecting

Insurance on Property or Risk in Unauthorized State. No person, corporation, association or partnership shall make, negotiate for or place, or aid in negotiating or placing any insurance contract in Guam for another who is an applicant for insurance covering any property or risk in another state, territory or district of the United States with any insurer not authorized to transact insurance business in the state, territory or district wherein such property or risk or any part thereof is located.. SOURCE: GC § 43127. 2024 NOTE: Reference to “this territory” replaced with “Guam” pursuant to 1 GCA § 420.