) This Chapter does not require a creditor to grant a refund or credit to the debtor if all and refund and credits due to the debtor under this Chapter amount to less than One Dollar ($1.00), and does not require the creditor to account to the debtor for any portion of a separate charge for insurance because:
(a) the insurance is terminated by performance of the insurer’s obligation;
(b) the creditor pays or accounts for premiums to the insurer in amounts and at times determined by the agreement between them; or
(c) under any policy of insurance, the creditor receives directly

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14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 4 INSURANCE

or indirectly a gain or advantage not prohibited by law.

(2) Except as provided in Subsection (1), the creditor shall promptly make or cause to be made an appropriate refund or credit to the debtor with respect to any separate charge made to him for insurance if:
(a) the insurance is not provided or is provided for a shorter term than that for which the charge to the debtor for insurance was computed; or
(b) the insurance terminates prior to the term for which it was written because of prepayment in full or otherwise.

(3) A refund or credit required by Subsection (2) is appropriate as to amount if it is computed according to a method prescribed or approved by the Commissioner of Banking and Insurance or a formula filed by the insurer with the Commissioner of Banking and Insurance at least thirty (30) days before the debtor’s right to a refund or credit becomes determinable, unless the method or formula is employed after the Commissioner of Banking and Insurance notifies the insurer that he or she disapproves it.
SOURCE: Item (3) amended by P.L. 27-88:5.