Guam § 4303 - Liability Insurance.

§ 4303. Liability Insurance.

A creditor may not contract for or receive a separate charge for

insurance against liability unless the insurance covers a substantial risk

of liability arising out of the ownership or use of property related to the

credit transaction. The excess amount of a charge for insurance provided

for in agreements in violation of this Section is an excess charge for the

purposes of the provisions of the Chapter on Remedies and Penalties

(Chapter 5) as to the effect of violations on rights of parties (§ 5201) and

of the provisions of the Chapter on Administration (Article 6) as to

administrative enforcement orders (§ 6108) and as to civil actions by the

Administrator (§ 6113).