14 Guam Code Ann. § 4104
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Terms Used In 14 Guam Code Ann. § 4104
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Statute: A law passed by a legislature.
cept as otherwise provided in this Chapter, a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make separate charge for insurance provided or required by him. This Act does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing, the business of insurance.
§ 4105. Conditions Applying to Insurance to be Provided by
Creditor.
If a creditor agrees with a debtor that insurance will be provided:
(1) the insurance shall be evidence by an individual policy or certificate of insurance;
(2) the policy or certificate of insurance shall be delivered to the debtor, or sent to him at his address as stated by him, within thirty (30) days after the term of the insurance commences under the agreement between the creditor and debtor; and
(3) the creditor shall promptly notify the debtor of any failure or delay in providing the insurance.