Guam § 15111 - Maximum Single Risk.
Full text of Guam Guam Code Annotated § 15111 — Maximum Single Risk., with citation guidance and answers to common questions.
§ 15111. Maximum Single Risk.
The maximum single risk which may be assumed by any
insurer after deduction of any reinsurance taking effect
simultaneously with the policy, shall be ten percent (10%) of the
paid in capital and surplus of such insurer; provided, however, that
a corporate insurer may assume any net single risk in excess of ten
percent (10%) of its capital and surplus if it deposits with the
Commissioner, prior to the assumption of said risk, a collateral
agreement and collateral security, both of which shall be subject
to approval by the Commissioner, in an amount not less than that
proportion in excess of the foregoing limitation.
Frequently Asked Questions About Guam § 15111
What does Guam Code Annotated § 15111 cover?
Section 15111 ("Maximum Single Risk.") 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 § 15111?
A common citation format is "Guam Code Annotated § 15111" (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 § 15111 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.