Guam § 69111 - Security Interest: Validity.
Full text of Guam Guam Code Annotated § 69111 — Security Interest: Validity., with citation guidance and answers to common questions.
§ 69111. Security Interest: Validity.
A security interest in any vessel registered under this
Chapter, irrespective of whether such registration was effected
prior or subsequent to the execution of this security agreement, is
not valid as against creditors or subsequent purchasers or
encumbrances until the secured party or his successor or a
assignee, has deposited with the Guam Police Department a copy
of such security agreement with an attached certificate of a
notary public stating that the same is a true and correct copy of
the original, accompanied by a properly endorsed certificate of
ownership to the vessel described in the security agreement that
the vessel has been registered under this Chapter, or if a vessel is
not so registered, by application and usual form for an original
certificate of ownership, together with an application for
certificate of ownership as legal owner, and upon payment of the
fee as provided in this Chapter. The Department in accepting the
security agreement for deposit, or in registering the secured
party, his successor or his assignee as legal owner, shall not be
required to examine the security agreement or determine the
genuineness, regularity or legal sufficiency thereof.
Frequently Asked Questions About Guam § 69111
What does Guam Code Annotated § 69111 cover?
Section 69111 ("Security Interest: Validity.") 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 § 69111?
A common citation format is "Guam Code Annotated § 69111" (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 § 69111 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.