Terms Used In 12 Guam Code Ann. § 58144

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
In addition to the filing and surveillance fees, the Authority may also assess against an applicant or Beneficiary any extraordinary costs and expenses incurred to process the application or monitor the Beneficiary’s performance of the terms and conditions of the Qualifying Certificate. Such cost and expenses shall not include the salaries of any employees of the Authority but may include but are not limited to the services of outside consultants, or off-island trips necessitated by the applica- tion or the surveillance.