Guam § 171211 - Court Proceedings.
Full text of Guam Guam Code Annotated § 171211 — Court Proceedings., with citation guidance and answers to common questions.
§ 171211. Court Proceedings.
(a) A dissolved limited cooperative association that has published a notice under § 171210 shall file
an application with the Superior Court of Guam or, if the principal office or the registered agent are not
COL 2025-04-22
located in Guam, where the office of its registered agent is or was last located, for a determination of the
amount and form of security to be provided for payment of claims that are reasonably expected to arise
after the date of dissolution based on facts known to the association and:
(1) at the time of the application:
(A) are contingent; or
(B) have not been made known to the association; or
(2) are based on an event occurring after the date of dissolution.
(b) Security is not required for a claim that is or is reasonably anticipated to be barred under § 171210.
(c) No later than ten (10) calendar days after filing an application under Subsection (a) of this Section,
the dissolved limited cooperative association shall give notice of the proceeding to each claimant holding
a contingent claim known to the association.
(d) In a proceeding under this Section, the court may appoint a guardian ad litem to represent all
claimants whose identities are unknown. The reasonable fees and expenses of the guardian, including all
reasonable expert witness fees, must be paid by the dissolved limited cooperative association.
(e) A dissolved limited cooperative association that provides security in the amount and form ordered
by the court under Subsection (a) of this Section satisfies the association’s obligations with respect to claims
that are contingent, have not been made known to the association, or are based on an event occurring after
the effective date of dissolution. Such claims may not be enforced against a member or holder of financial
rights on account of assets received in liquidation.
Frequently Asked Questions About Guam § 171211
What does Guam Code Annotated § 171211 cover?
Section 171211 ("Court Proceedings.") 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 § 171211?
A common citation format is "Guam Code Annotated § 171211" (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 § 171211 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.