Guam § 50100 - Petition for Voluntary Insolvency.
Full text of Guam Guam Code Annotated § 50100 — Petition for Voluntary Insolvency., with citation guidance and answers to common questions.
§ 50100. Petition for Voluntary Insolvency.
An insolvent debtor, owing debts exceeding in amount the sum of One
Thousand Dollars ($1,000.00), may apply to be discharged from his debts
and liabilities by petition to the Superior Court, Guam. In his petition he
shall set forth his place of residence, the period of his residence therein
immediately prior to filing said petition, his inability to pay all his debts in
full, his willingness to surrender all his property, estate, and effects not
exempt from execution for the benefit of his creditors, and an application to
be adjudged an insolvent. He shall annex to his petition a schedule and
COL120106
inventory in the form hereinafter provided. The filing of such petition shall
be an act of insolvency.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 50100
What does Guam Code Annotated § 50100 cover?
Section 50100 ("Petition for Voluntary Insolvency.") 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 § 50100?
A common citation format is "Guam Code Annotated § 50100" (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 § 50100 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.