Guam § 26714 - Corporations May Become Sureties.

§ 26714. Corporations May Become Sureties.

In all cases where an undertaking or bond, with any number of sureties,

is authorized or required by any provision of this Title, or of any law of

Guam, any corporation incorporated under the laws of Guam or any state of

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the United States for the purpose of making, guaranteeing, or becoming a

surety upon bonds or undertakings required or authorized by law, or which,

by the laws of the state where it was originally incorporated has such power,

and which shall have complied with all the requirements of the law of Guam

regulating the formation, licensing, or admission of those corporations to

transact such business in Guam, may become and may be accepted as sole

and sufficient surety upon such undertaking or bond, and such corporate

surety shall be subject to all the liabilities and entitled to all the rights of

natural persons' sureties.

Any undertaking or bond furnished under this section must be approved

by the judge of the court having jurisdiction before it shall be deemed to be

in effect.