22 Guam Code Ann. § 15609
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Terms Used In 22 Guam Code Ann. § 15609
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Lien: A claim against real or personal property in satisfaction of a debt.
During the pendency of delinquency proceedings in this or any reciprocal state, no action or proceeding in the nature of an attachment, garnishment, or execution shall be commenced or maintained in the courts of this territory against the delinquent insurer or its assets. Any lien obtained by any such action or proceeding within four (4) months prior to the commencement of any such delinquency proceedings or at any time thereafter, shall be void as against any rights arising in such delinquency proceeding.
SOURCE: GC § 43233.
§ 15610. Right of Domiciliary Receiver to Sue in This
Territory.
The domiciliary receiver of an insurer domiciled in a reciprocal state may sue in this territory to recover any assets of such insurer to which he may be entitled under the laws of this territory.
SOURCE: GC § 43234.