22 Guam Code Ann. § 15709
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Terms Used In 22 Guam Code Ann. § 15709
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
It is unlawful for an insurer to pay any representative who is given discretion as to the settlement or adjustment of claims under any insurance, whether in direct negotiations or in supervision of the person negotiating, which in any way is contingent upon the amount of settlement of each claim, except that this section shall not apply to marine insurance.
SOURCE: GC § 43257.