Guam § 15608 - Priority of Secured Claims.
Full text of Guam Guam Code Annotated § 15608 — Priority of Secured Claims., with citation guidance and answers to common questions.
§ 15608. Priority of Secured Claims.
The owner of a secured claim against an insurer for which a
receiver has been appointed in this or any other state may
surrender his security and file his claim as a general creditor, or
the claim may be discharged by resort to the security, in which
case the deficiency, if any, shall be treated as a claim against the
general assets of the insurer on the same basis as claims of
unsecured creditors. If the amount of the deficiency has been
adjudicated in ancillary proceedings as provided in this Act, or if
it has been adjudicated by a court of competent jurisdiction in
proceedings in which the domiciliary receiver has had notice and
opportunity to be heard, such amount shall be conclusive;
otherwise the amount shall be determined in the delinquency
proceeding in the domiciliary state.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 15608
What does Guam Code Annotated § 15608 cover?
Section 15608 ("Priority of Secured Claims.") 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 § 15608?
A common citation format is "Guam Code Annotated § 15608" (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 § 15608 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.