Title 22, Business Regulation
30 chapters · 727 sections in this title.
22 GCA § 12101 Short Title
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This Title may be cited as the Insurance Law. SOURCE: GC '43000.
22 GCA § 12102 Provisions Construed as Continuations
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The provisions of this Title insofar as they are substantially the same as existing statutory provisions relating to the same subject matter shall be construed as restatements and continuations thereof, and not as new enactments. SOURCE: SOURCE: GC § 43001.
22 GCA § 12103 Not Retroactive
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No action or proceedings commenced, and no right accrued, prior to the effective date hereof, is affected by the provisions of this Title, but all procedure hereafter taken shall conform to the provisions of this Title so far as possible. SOURCE: GC § 43002.
22 GCA § 12104 Definitions
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The rules and definitions contained in this section shall be used in interpreting the provisions of this Title. (a) The present tense includes the past and future tenses; and the future, the present. (b) The masculine gender includes the feminine and neuter. (c) The singular numb…
22 GCA § 12105 Exercise of Power
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Whenever, by the provisions of this Title, a power is granted to a public officer or a duty imposed upon such officer, the power or duty may be performed by a deputy or assistant of such officer authorized to do so. SOURCE: GC § 43004.
22 GCA § 12106 Notice
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Whenever any notice is required by this Title, it shall be in writing unless expressly otherwise provided. Any required notice may be given by mailing such notice, postage prepaid, addressed to the person to be notified, at his last known residence or his principal place of busin…
22 GCA § 12107 Time
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Any date or time mentioned in this Title, or in any policy of insurance issued under authority thereof, shall be conclusively presumed to refer to Guam time unless specifically and clearly otherwise stated. SOURCE: GC § 43006.
22 GCA § 12108 Scope of Title
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All insurance transacted in Guam is governed by the provisions of this Title. SOURCE: GC § 43007.
22 GCA § 12109 Penalty
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Any person violating any of the provisions of this Title, or of any regulation issued hereunder, or any lawful order of the Commissioner, for COL10312014 which a penalty is not otherwise specifically provided, shall be guilty of a misdemeanor. SOURCE: GC § 43008. Amended by P.L. …
22 GCA § 12110 False Swearing
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Any person who shall knowingly swear to, or verify, any false or fraudulent statement, or who, when testifying at any hearing, examination or inquiry pursuant to this Title shall make any false or fraudulent statement, shall be guilty of a felony. SOURCE: GC § 43009. Amended by P…
22 GCA § 12111 Conflict of Interest Between Insured and Insurer
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(a) If the provisions of a policy of insurance impose a duty to defend upon an insurer and a conflict of interest arises which creates a duty on the part of the insurer to provide independent counsel to the insured, the insurer shall provide independent counsel to represent the i…
22 GCA § 12111.1 Misrepresentations and False Advertising Prohibited
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(a) No person shall: (1) make, issue, circulate, or cause to be made, issued or circulated, any estimate, circular or statement misrepresenting the terms of any policy issued, or to be issued, or the benefits or advantages promised thereby, or the dividends or share of the surplu…
22 GCA § 12112 Twisting Prohibited
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No person shall make or issue, nor cause to be made or issued, any written statement misrepresenting or making incomplete comparisons as to the terms, conditions or benefits contained in any policy for the purpose of inducing, or attempting to induce, the policyholder to lapse, f…
22 GCA § 12113 Air Ambulance Services Membership Plan Exempted
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The provisions of this Chapter shall not prohibit or apply to Air Ambulance Services Membership Plans. SOURCE: Added by P.L. 29-113:VI:56(d) (Sept. 30, 2008). ---------- COL10312014 ARTICLE 2 SERVICE CONTRACTS SOURCE: P.L. 04-102 (Sept. 12, 1958) added Article 2, §§ 43025-43036, …
22 GCA § 12201 Service Contracts Excepted
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The marketing, sale, offering for sale, issuance, making, proposing to make and administration of a service contract shall not be construed to be the business of insurance, and shall be exempt from regulation as insurance under this Division. Express or implied warranties shall b…
22 GCA § 12202 Definitions
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COL10312014 (a) Administrator means a person appointed or designated by a provider who administers service contracts and service contract plans on behalf of the provider, and subject to the requirements of this Article. (b) Commissioner means the Insurance and Banking Commissione…
22 GCA § 12203 License Required
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It shall be unlawful for any person to act as, or offer to act as, or hold himself or herself out to be a service contract provider, nor may a service contract be sold to a consumer, unless the service contract provider has a valid license as a service contract provider issued by…
22 GCA § 12204 Financial Responsibility
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(a) Any service contract provider applying for a license shall be solvent and shall meet the minimum requirements under this Section. If the financial responsibility requirement under this Section is to be maintained by the service contract provider’s parent company, the parent c…
22 GCA § 12205 Powers and Duties
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The Commissioner shall: COL10312014 (a) receive applications for certification or license of service contract providers; (b) establish the procedure for processing applications made under this Article; (c) retain all applications and other records submitted to him or her; (d) mai…
22 GCA § 12206 Recordkeeping
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(a) The service contract provider or service contract provider’s administrator shall keep accurate accounts, books, and records of all transactions regulated under this Article. (b) Accounts, books, and records maintained as required by this Section shall include the following: (…
22 GCA § 12207 Filing of Annual Report
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(a) Every registered service contract provider must file an annual report for the preceding calendar year with the Commissioner on or before July 1st of each year, or within any extension of the time the Commissioner for good cause may grant. The report must be in the form and co…
22 GCA § 12208 Receipt and Disclosures
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(a) Service contract providers shall provide purchasers of a service contract with: (1) a receipt or other written evidence of the purchase of the service contract that shall be provided to the service contract holder; (2) a copy of the service contract that shall be provided wit…
22 GCA § 12209 Returns and Refunds
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(a) Service contracts shall state that the service contract holder may return the contract within: (1) thirty (30) days of the date that the service contract was mailed to the service contract holder; (2) twenty (20) days of the date the service contract was delivered to the serv…
22 GCA § 12210 Prohibited Acts
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(a) No service contract provider shall use in its name, the word insurance, casualty, surety, mutual, guarantee, or any other word descriptive of the insurance, casualty, or surety business, or a name deceptively similar to the name or description of any insurance or surety corpo…
22 GCA § 12211 Rules
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The Commissioner may adopt rules to implement and administer this Article pursuant to the Administration Adjudication Act.
22 GCA § 12212 Enforcement
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COL10312014 (a) The Commissioner shall take any action necessary or appropriate to enforce this Article, and the rules adopted and orders issued hereunder. The Commissioner shall conduct investigations and examinations of service contract providers and administrators, or other pe…
22 GCA § 12213 Effective Date
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This Act shall take effect upon its enactment and apply prospectively.
22 GCA § 12214 Severability
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If any provision of this Act or its application to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this Act which can be given effect without the invalid provision or application and to this end the provisions of thi…