Chapter 26

COL12010622GCA BUSINESS REGULATIONS CH.26PREPAID LEGAL SERVICE PROGRAMS 1CHAPTER 26 PREPAID LEGAL SERVICE PROGRAMS § 26101. Prepaid Legal Services: Definition. § 26102. Registration. § 26103. Applicability of Title. § 26101. Prepaid Legal Service Programs: Definition. Prepaid Legal Services is a contract whereby one undertake s to provide or pay for legal services offered by attorneys licensed to practice law on Guam which are incurred by another who is a member of an approved plan registered at the Department of Revenue and Taxation and licensed to do business pursuant to the laws of Guam. SOURCE: GC '43801; added by P.L. 18 -06:18. § 26102. Registration. All plans for the provision of prepaid legal services shall be licensed to do business in the territory and shall be regulated by the Director of Revenue and Taxation in the sa me manner as Health Maintenance Organizations and shall maintain reserves in accordance with generally accepted actuarial practices as shall be mandated by rules and regulations promulgated by the Director of Revenue and Taxation, and shall pay participati ng attorneys according to agreement submitted to the Director of Revenue and Taxation.

mandated by rules and regulations promulgated by the Director of Revenue and Taxation, and shall pay participati ng attorneys according to agreement submitted to the Director of Revenue and Taxation. Each prepared legal service shall provide services to consumers in accordance with rules and regulations promulgated by the Director of Revenue and Taxation and in accor dance with the master agreement with consumers which must be filed annually by each prepared legal service with the Director of Revenue and Taxation. The Director of Revenue and Taxation may enforce this Section and rules and regulations promulgated under authority of this Section in the same manner as laws, rules, and regulations pertaining to insurance are enforced, and may revoke the license of any prepaid legal service for substantial violations. all incorporators, directors and officers of any prepaid legal service shall have a fiduciary relationship with the participating consumers and attorneys as to funds paid in and expended. Attorneys participating in prepaid legal services must be bona fide licensed Guam attorneys. SOURCE: GC '43802; added by P.L. 18-06:18; amended by P.L.

and attorneys as to funds paid in and expended. Attorneys participating in prepaid legal services must be bona fide licensed Guam attorneys. SOURCE: GC '43802; added by P.L. 18-06:18; amended by P.L. 18 -49:14.COL12010622GCA BUSINESS REGULATIONS CH.26PREPAID LEGAL SERVICE PROGRAMS 2§ 26103. Applicability of Title. Except as provided in this Chapter, no provision of this Title shall apply to prepaid legal services. SOURCE: GC '43803, added in P.L. 18 -6:18 is repealed. GC '43804, added in P.L. 18-6:18 is renumbered to be 22 GCA § 26103 by P.L. 18 -49:16.. NOTE: § 26103 (GC '43803) Rules and Regulations was repealed by P.L. 18 -49:16 and § 26104 (GC '43804) was renumbered to § 26103 by P.L. 18 -49:16. Notation by Compiler. ----------COL120106