Guam § 15906 - License Renewal and Fees.

§ 15906. License Renewal and Fees.

(a) Unless denied licensure pursuant to § 15910 of this

Article, persons who have met the requirements of § 15905 of this

Article shall be issued an adjuster license. An adjuster may qualify

for a license for any lines of authority which are authorized under

the laws of Guam.

(b) An adjuster license shall remain in effect unless probated,

suspended, revoked, or refused as long as the request for renewal

and fee set forth in this Section is paid and all other requirements

for license renewal are met by the due date, otherwise the license

expires.

(c) An individual adjuster shall not simultaneously have an

insurance producer license to avoid conflict in carrying out his/her

duties as such.

(d) An adjuster who is unable to comply with license renewal

procedures and requirements due to long-term medical disability

or some other extenuating circumstance may request a waiver of

the same and a waiver of any examination requirement, fine, or

other sanction imposed for failure to comply with renewal

procedures.

(e) The fee for each type of license and the renewal thereof

shall be as follows:

(1) Individual Adjuster - One Hundred Dollars

($100.00) for each two (2)-year period.

(2) Business Entity Adjuster - One Hundred Dollars

($100.00) for each two (2)-year period.

(f) An individual adjuster license and renewal thereof shall

be for a term of two (2) years expiring the first (1st) day of July

occurring after issuance.

(g) A business entity’s adjuster’s license and renewal thereof

shall be for a term of two (2) years expiring the first (1st) day of

July occurring after issuance. However, if, for any reason, the

individual adjuster’s licenses of all employees should lapse during

the term of the business entity’s adjuster’s license, then the

business entity’s license shall also lapse on the day that its last

employee’s license lapsed or expired.

(h) The adjuster shall inform the Commissioner of Banking

and Insurance of any change in residence or business address(es)

for Guam or in legal name within thirty (30) days of the change.

(i) The license shall contain the licensee’s name, address,

personal identification number, the date of issuance and expiration

and any other information the Commissioner of Banking and

Insurance deems necessary.

2024 NOTE: The Compiler corrected manifest errors in numbering

pursuant to the authority of 1 GCA § 1606.