22 Guam Code Ann. § 15402
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Terms Used In 22 Guam Code Ann. § 15402
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Service of process: The service of writs or summonses to the appropriate party.
A foreign insurer shall not be granted a certificate unless and until it has duly complied with the provisions of this section:
(a) Duly appointed a licensed resident general agent who shall have a power of attorney of the insurer which authorizes him to appoint sub-agents and solicitors for the insurer;
(b) Filed with the Commissioner its consent that its resident general agent shall be authorized to accept service of process on its behalf for all cases, and that such service shall constitute personal service upon such insurer;
(c) Filed with the Commissioner a power of attorney that the resident general agent shall have authority to
22 Guam Code Ann. BUSINESS REGULATIONS
CH. 15 BUSINESS OF INSURANCE
countersign all policies of the foreign insurer effected on risks in Guam.
SOURCE: GC § 43176.