5 Guam Code Ann. § 22415
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Terms Used In 5 Guam Code Ann. § 22415
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
(a) Any creditor of the government of Guam (other than a tort claimant with an unadjudicated claim) who is not paid within thirty (30) days of filing his claim may request that the Director of Administration issue a registered, nontransferable promissory note in the amount of his claim from the government of Guam, bearing interest at six percent (6%) per annum and maturing one year from its date of issue. Within thirty (30) days of the request, the Director of Administration shall either issue said promissory note or shall deliver to the claimant a statement that part or all of the claim is disputed. If only part of the claim is disputed, a promissory note shall be issued for the undisputed portion. The Director shall, in the statement that part or all of the claim is disputed, designate a hearing officer for a hearing pursuant to the Administrative Adjudication Law, set a hearing date not less than thirty (30) days nor more than sixty (60) days from the date of the statement, and indicate with particularity the reasons the claim is disputed. If no such statement of disputed claim is issued within
thirty (30) days, the claim shall be deemed undisputed.
thirty (30) days, the claim shall be deemed undisputed.
(b) The amount of promissory notes issued in a fiscal year pursuant to subsection (a) hereof shall not exceed two percent (2%) of the total revenues projected pursuant to Title 2 Guam Code Ann., Chapter 13 for the General Fund for that fiscal year.
SOURCE: GC § 6131 added by P.L. 19-10:33. Amended by P.L. 29-
019:VIII:7 (Sept. 29, 2007).