Guam § 15303 - Application for Authority.

§ 15303. Application for Authority.

Any number of persons sufficient to organize a corporation

in Guam may file an application with the Commissioner for

authority to organize as an insurance corporation. No person shall

organize an insurance corporation until written authority for that

purpose has been obtained from the Commissioner. The

application shall be in duplicate and shall contain the information

required herein.

(a) The proposed location of its principal office, amount

of paid-in capital, and corporate name which shall include the

word insurance;

(b) The proposed articles of incorporation showing the

classes of insurance business which it proposes to transact;

(c) Evidence of the character, financial responsibility,

business experience and ability of the proposed

incorporators, directors and officers;

(d) All other information required to be filed with the

articles of incorporation under the laws of Guam for the

purpose of receiving a corporate charter, or by regulations of

the Commissioner, or specifically requested of the

incorporators by the Commissioner.