Guam § 141108 - Court Application by Association Aggrieved.

§ 141108. Court Application by Association Aggrieved.

Whenever any association of whose property, business and assets

the commissioner has taken possession, as aforesaid, deems itself

aggrieved thereby, it may at any time within thirty days after such taking

possession apply to the District Court of Guam to enjoin further

proceedings; and said court after citing the commissioner to show cause

why further proceedings should not be enjoined, and hearing the

allegations and proofs of the parties and determining the facts, may upon

the merits dismiss such application or enjoin the commissioner from

further proceedings and direct him to surrender such business, property

and assets to such association. An appeal from such judgment enjoining

the commissioner from further proceedings and directing him to

surrender such business, property and assets to such association shall not

operate as a stay thereof, unless the trial court in its discretion shall so

order and no bond need be given if such appeal be taken by the

commissioner; but if such judgment dismisses such application an appeal

therefrom shall not operate as a stay thereof but the court rendering such

judgment may, in its discretion, enjoin the commissioner, pending the

appeal, to from further proceedings and direct him, pending the appeal,

to surrender such business, property and assets to such association,

provided a bond shall be given as required by Title 7, Guam Code

Annotated, Rule 65 of the Guam Rules of Civil Procedure.

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