Guam § 71501 - Insurance Requirements.
Full text of Guam Guam Code Annotated § 71501 — Insurance Requirements., with citation guidance and answers to common questions.
§ 71501. Insurance Requirements.
Each employer of armed private security personnel shall file with the
Department of Revenue and Taxation a certificate of insurance evidencing
general liability coverage for bodily injury, personal injury, and property
damage with endorsements for assault and battery in the minimum annual
aggregate amount of One Hundred Fifty Thousand Dollars ($150,000) for
bodily or personal injury, and a minimum annual aggregate amount of One
Hundred Thousand Dollars ($100,000) for property damage. All private
security employers are required to secure a policy with the least deductible
amount. Any policy issued to a private security employer with a deductible
amount shall bear a certification from the insurer, or its duly appointed
general agent or sub-agent, and shall state that the deductible set forth in the
policy is the least amount duly approved by the Commissioner of Banking
and Insurance.
The certificate of insurance required herein does not apply to
employers of unarmed security personnel who do not provide armed
security services. For this purpose, employers of unarmed security
personnel shall mean employers who shall prohibit or shall not allow
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security personnel to use physical force, and/or possess or have access to
firearms, clubs or batons, shock or stun devices, and incapacitating agents.
The Department of Revenue and Taxation shall adopt a designation
that shall identify on a business license that such business is licensed to
provide armed security services.
If at any time the certificate of insurance is revoked, or cancelled, then
the Department shall revoke the business license of such business that is
required to maintain a certificate of insurance.
Frequently Asked Questions About Guam § 71501
What does Guam Code Annotated § 71501 cover?
Section 71501 ("Insurance Requirements.") 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 § 71501?
A common citation format is "Guam Code Annotated § 71501" (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 § 71501 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.