12 Guam Code Ann. § 81110
Terms Used In 12 Guam Code Ann. § 81110
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(a) the full and timely payment of principal, interest and premiums on or purchase price of bonds issued under this Chapter; or
(b) the pledge described in § 81106(e), and the full and timely application of the pledged property as provided in the indenture for bonds issued under this Chapter. None of the property described in the first sentence of § 81104(a) shall be subject to garnishment, execution, attachment or other process, writ or remedy in connection with the assertion or enforcement of any debt, claim, settlement or judgment against the government or the Authority, except as provided in the indenture for bonds issued under this Chapter.
SOURCE: Subsection (b) amended by P.L. 29-019:IX:3 (Sept. 29, 2007).
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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 81 GEDCA TOBACCO SETTLEMENT REVENUE BOND ACT