Guam § 40113 - Bonds Required.
Full text of Guam Guam Code Annotated § 40113 — Bonds Required., with citation guidance and answers to common questions.
§ 40113. Bonds Required.
A tax preparer shall deposit with the Division, prior to registration
or registration renewal, a cash or surety bond issued by an insurer
licensed on Guam in the penal sum of One Thousand Dollars
($1,000.00). The bonds required by this Section shall be payable to the
General Fund on behalf of the people of Guam and shall contain the
condition that the person applying for registration or registration renewal
shall comply with this Chapter and shall pay all damages occasioned to
any person by reason of misstatement, misrepresentation, fraud, deceit or
any unlawful acts or omissions by the tax preparer or its agents or
employees while acting in the scope of their employment or agency. The
aggregate liability of the surety shall in no event exceed the penal sum of
the bond.
Frequently Asked Questions About Guam § 40113
What does Guam Code Annotated § 40113 cover?
Section 40113 ("Bonds Required.") 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 § 40113?
A common citation format is "Guam Code Annotated § 40113" (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 § 40113 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.