Guam § 15112 - Reserves.
Full text of Guam Guam Code Annotated § 15112 — Reserves., with citation guidance and answers to common questions.
§ 15112. Reserves.
Except as provided in § 15313, every insurer authorized to
transact insurance, or transacting insurance, in Guam shall at all
times maintain, in addition to reserves for all other liabilities,
reserves as follows: (a) Loss or claim reserves in an amount
estimated in the aggregate to provide for the payment of all losses
or claims incurred, whether reported or unreported, which are
unpaid and for which such insurer may be liable, together with an
amount estimated to provide for the expense of adjustment or
settlement of such claims, and (b) premium reserves equal to the
unearned portions of the gross premiums charged on unexpired or
undetermined risks and policies.
Frequently Asked Questions About Guam § 15112
What does Guam Code Annotated § 15112 cover?
Section 15112 ("Reserves.") 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 § 15112?
A common citation format is "Guam Code Annotated § 15112" (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 § 15112 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.