Definitions. — Guam Code § 12104

§ 12104. Definitions.

The rules and definitions contained in this section shall be used in

interpreting the provisions of this Title.

(a) The present tense includes the past and future tenses; and the

future, the present.

(b) The masculine gender includes the feminine and neuter.

(c) The singular number includes the plural, and the plural

includes the singular.

(d) The word shall is mandatory and the word may is permissive,

unless otherwise apparent from the context.

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(e) Adjuster means any person who acts for or on behalf of an

insurer or an insured in determining and making settlement of the

amount payable to the insured for any loss or damage under a policy.

(f) Admitted in relation to a person, means entitled to transact

insurance business in Guam under the laws of Guam; nonadmitted, in

relation to a person, means not entitled to transact insurance business in

Guam under the laws of Guam.

(g) Advisory organization means every person, other than an

admitted insurer, who prepares policy forms or makes underwriting

rules, or who collects and furnishes loss or expense statistics or other

statistical information and data and acts in an advisory, as distinguished

from a rate making, capacity. No duly authorized attorney-at-law acting

in the usual course of his profession shall be deemed an advisory

organization.

(h) Agent means both general agent and sub-agent, unless

otherwise apparent from the context

(i) Alien means organized under the laws of any government other

than Guam or the United States or any political subdivision thereof,

whether or not admitted.

(j) Broker means a person who, for compensation and on behalf of

another person, transacts insurance business other than as insurer,

general agent, sub-agent or solicitor.

(k) Certificate means the Certificate of Authority required of an

insurer to transact insurance business in Guam.

(l) >Department= means the Department of Revenue and Taxation.

(n) Domestic means organized under the laws of Guam, whether

or not admitted.

(o) Foreign means not organized under the laws of Guam, but

organized under the laws of the United States or any political

subdivision thereof, whether or not admitted.

(p) General Agent means a person authorized by an insurer to

countersign, issue and deliver new policies, to accept service of process

on behalf of the insurer, and vested with full authority to consummate a

contract of insurance and to transact all other necessary business of the

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insurer in Guam. [Gordon Mailloux Enterprises, Inc. v. Fireman's Ins.

Co. (1966), 366 F.2d. 740.]

(q) Insurance is a contract whereby one undertakes to indemnify

another against loss, damage, or liability arising from contingent or

unknown events.

(r) Insurer means the person who undertakes to indemnify another

by insurance; insured means the person so indemnified.

(s) Issue means to write, renew, execute, effect or other- wise enter

into a contract of insurance.

(t) Paid-in capital or Capital paid-in means the lower of the

following amounts:

(1) The value of an insurer's assets in excess of the sum of its

liabilities for losses reported, expenses, taxes, and all other

indebtedness and reinsurance of outstanding risks as provided by

law;

(2) The aggregate par value of an insurer's issued shares of

stock, including treasury shares.

For the purpose of computing paid in capital or capital, paid

in, shares of stock are not considered as liabilities.

(u) Person means any person, association, organization,

partnership, business trust, or corporation.

(v) Policy means the written instrument in which a contract of

insurance is set forth.

(w) Political subdivision in reference to the United States, means

any State, the District of Columbia, any territory, possession, or

commonwealth belonging to or part of the United States.

(x) Rating bureau means every person, other than an admitted

insurer, who has as his object or purpose the making of rates, rating

plans or rating systems.

(y) Reinsurance means the insurance ceded and accepted between

two insurers one of whom has effected the direct insurance.

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(z) Signature includes a mark when the signer or subscriber cannot

write, provided his name is written near the mark by a witness who also

signs the instrument together with a second witness.

(aa) Solicitor means a person authorized by either the insurer or its

general agent or a sub-agent to act as its representative but whose duties

and authority are confined merely to soliciting insurance and aiding in

the preparation of applications for insurance.

(bb) Sub-agent means a person authorized by either the insurer or

its general agent to solicit applications, receive proposals, receive

premiums, deliver policies, and to make contracts of insurance. The

receipt by a sub-agent of any premiums shall bind the insurer on the

contract of insurance for that period of time covered by the premium

payment.

(cc) Transact means, when applied to insurance, solicitation,

negotiations preliminary to execution, execution or transaction

subsequent to execution, or a contract of insurance or matters

appertaining thereto.

(dd) United States means its entire system and group of political

jurisdictions including the States, the District of Columbia, territories,

possessions, or commonwealths.

(ee) Writing means any form of recorded message capable of

comprehension by ordinary visual means.

(ff) Board= means the Banking and Insurance Board.

(gg) Commissioner means the Commissioner of Banking and

Insurance.

(hh) Office means the office of the Commissioner of Banking and

Insurance.

(ii) Air Ambulance Service means the emergency and non-

emergency transportation of a doctor-qualified patient-candidate for

higher level care from Guam to another location by a legally authorized

air ambulance in which health care services, including advanced life

support services, are provided to the patient for the duration of such

transportation.

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(jj) Air Ambulance Services Membership Plan means a plan

contract between air ambulance services providers and members or

enrollees in which such providers provide air ambulance services for its

members or enrollees in exchange for an annual fee.