Guam § 18501 - Approval.
Full text of Guam Guam Code Annotated § 18501 — Approval., with citation guidance and answers to common questions.
§ 18501. Approval.
(a) All rates, rate schedules, rate plans and methods of
computing rates to be applied to any insurance transacted in
Guam shall be filed with the office of the Commissioner, and
before any rates may be charged, advertised, publicized, or
otherwise represented, they shall have the approval of the
Commissioner.
(b) It shall be unlawful for any insurer to use any rates in
violation of the provisions of this section, or to alter, amend or
otherwise change any rates without the approval of the
Commissioner.
(c) It shall be unlawful for any insurer to charge any rate for
any insurance transacted in Guam other than the rate approved
by the Commissioner for such insurer for such risk and class of
insurance.
(d) A filing fee of Two Hundred Dollars ($200.00) shall be
paid for every rate plan or request for the Commissioner’s
approval that is filed with the Commissioner.
COL6/24/2021
Frequently Asked Questions About Guam § 18501
What does Guam Code Annotated § 18501 cover?
Section 18501 ("Approval.") 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 § 18501?
A common citation format is "Guam Code Annotated § 18501" (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 § 18501 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.