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 number includes the plural, and the plural includes the singular.

(d) The word shall is mandatory and the word may is permissive, unless otherwise apparent from the context.

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(e) Adjuster means any person who acts for or on behalf of an insurer or an insured in determining and making settlement of the amount payable to the insured for any loss or damage under a policy.

(f) Admitted in relation to a person, means entitled to transact insurance business in Guam under the laws of Guam; nonadmitted, in relation to a person, means not entitled to transact insurance business in Guam under the laws of Guam.

(g) Advisory organization means every person, other than an admitted insurer, who prepares policy forms or makes underwriting rules, or who collects and furnishes loss or expense statistics or other statistical information and data and acts in an advisory, as distinguished from a rate making, capacity. No duly authorized attorney-at-law acting in the usual course of his profession shall be deemed an advisory organization.

(h) Agent means both general agent and sub-agent, unless otherwise apparent from the context

(i) Alien means organized under the laws of any government other than Guam or the United States or any political subdivision thereof, whether or not admitted.

(j) Broker means a person who, for compensation and on behalf of another person, transacts insurance business other than as insurer, general agent, sub-agent or solicitor.

(k) Certificate means the Certificate of Authority required of an insurer to transact insurance business in Guam.
(l) >Department= means the Department of Revenue and Taxation. (n) Domestic means organized under the laws of Guam, whether
or not admitted.

(o) Foreign means not organized under the laws of Guam, but organized under the laws of the United States or any political subdivision thereof, whether or not admitted.

(p) General Agent means a person authorized by an insurer to countersign, issue and deliver new policies, to accept service of process on behalf of the insurer, and vested with full authority to consummate a contract of insurance and to transact all other necessary business of the

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insurer in Guam. [Gordon Mailloux Enterprises, Inc. v. Fireman’s Ins. Co. (1966), 366 F.2d. 740.]

(q) Insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising from contingent or unknown events.

(r) Insurer means the person who undertakes to indemnify another by insurance; insured means the person so indemnified.

(s) Issue means to write, renew, execute, effect or other- wise enter into a contract of insurance.

(t) Paid-in capital or Capital paid-in means the lower of the following amounts:

(1) The value of an insurer’s assets in excess of the sum of its liabilities for losses reported, expenses, taxes, and all other indebtedness and reinsurance of outstanding risks as provided by law;

(2) The aggregate par value of an insurer’s issued shares of stock, including treasury shares.

For the purpose of computing paid in capital or capital, paid in, shares of stock are not considered as liabilities.

(u) Person means any person, association, organization, partnership, business trust, or corporation.

(v) Policy means the written instrument in which a contract of insurance is set forth.

(w) Political subdivision in reference to the United States, means any State, the District of Columbia, any territory, possession, or commonwealth belonging to or part of the United States.

(x) Rating bureau means every person, other than an admitted insurer, who has as his object or purpose the making of rates, rating plans or rating systems.

(y) Reinsurance means the insurance ceded and accepted between two insurers one of whom has effected the direct insurance.

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(z) Signature includes a mark when the signer or subscriber cannot write, provided his name is written near the mark by a witness who also signs the instrument together with a second witness.

(aa) Solicitor means a person authorized by either the insurer or its general agent or a sub-agent to act as its representative but whose duties and authority are confined merely to soliciting insurance and aiding in the preparation of applications for insurance.

(bb) Sub-agent means a person authorized by either the insurer or its general agent to solicit applications, receive proposals, receive premiums, deliver policies, and to make contracts of insurance. The receipt by a sub-agent of any premiums shall bind the insurer on the contract of insurance for that period of time covered by the premium payment.

(cc) Transact means, when applied to insurance, solicitation, negotiations preliminary to execution, execution or transaction subsequent to execution, or a contract of insurance or matters appertaining thereto.

(dd) United States means its entire system and group of political jurisdictions including the States, the District of Columbia, territories, possessions, or commonwealths.

(ee) Writing means any form of recorded message capable of comprehension by ordinary visual means.

(ff) Board= means the Banking and Insurance Board.

(gg) Commissioner means the Commissioner of Banking and
Insurance.

(hh) Office means the office of the Commissioner of Banking and
Insurance.

(ii) Air Ambulance Service means the emergency and non- emergency transportation of a doctor-qualified patient-candidate for higher level care from Guam to another location by a legally authorized air ambulance in which health care services, including advanced life support services, are provided to the patient for the duration of such transportation.

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(jj) Air Ambulance Services Membership Plan means a plan contract between air ambulance services providers and members or enrollees in which such providers provide air ambulance services for its members or enrollees in exchange for an annual fee.

SOURCE: GC § 43003. Subsection (l) amended and subsections (ff), (gg) and (hh) added by P.L. 27-88:7(a). Subsections (ii) and (jj) added by P.L. 29-113:VI:56(b-c) (Sept. 30, 2008).