Guam § 103105 - Order of the Commissioner.

§ 103105. Order of the Commissioner.

(a) Any finding, decision, or order of the Commissioner

shall be effective only when in writing and signed by the

Commissioner. Orders shall be filed in the Division of Insurance,

Securities and Banking of the Department of Revenue and

Taxation.

(b) Every such order shall state:

(1) Its effective date;

(2) Its intent or purpose;

(3) The grounds on which it is based; and

(4) The provisions of this Title and other laws

regulating banking or insurance in Guam pursuant to which

action is taken or proposed to be taken.

(c) Except as may be provided in the provisions of this

Title and other laws regulating banking or insurance in Guam

respecting particular procedures, an order or notice may be given

by delivery to the person to be ordered or notified or by mailing

it by certified or registered mail, return receipt requested,

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postage prepaid, addressed to the person at the residence or

principal place of business of the person as last of record in the

Department. Notice so mailed shall be deemed to have been

given when deposited in a letter depository of a United States

post office.