Guam § 124105 - Delay in Paying.
Full text of Guam Guam Code Annotated § 124105 — Delay in Paying., with citation guidance and answers to common questions.
§ 124105. Delay in Paying.
COL120106
11 GCAFINANCE & TAXATION
In the event the whole or any part of any matured withdrawal claim
against an association shall remain unpaid for a period of, one year after
such claim shall have matured, then, unless, such association shall have
set aside funds for the payment thereof which shall remain available for
such payment, the commissioner may in his discretion forthwith or at any
time thereafter take possession of the property, business and assets of
such association and retain such possession until its affairs be finally
liquidated in the manner provided by law for the liquidation of
associations by him, or until such association may be allowed to resume
business upon such conditions as may be approved by the commissioner.
The right of the commissioner to take possession under this section is not
exclusive, but is additional to his right to take possession under each and
every other provision of this act.
Frequently Asked Questions About Guam § 124105
What does Guam Code Annotated § 124105 cover?
Section 124105 ("Delay in Paying.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 124105?
A common citation format is "Guam Code Annotated § 124105" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 124105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.