Non-Profit Sports

[Temporary Authorization]. Association Insurance.

(a)Legislative Findings and Intent. I Liheslaturan Guåhan [Guam Legislature] finds that Youth Sports Organizations were previously insured by [a] National or International Insurance Company at a rate affordable by the local organizations and which no insurance company on Guam could match such rates.

(b)Authorization to Secure Off-Guam Insurance. Notwithstanding any other provision of Law, any registered Guam non-profit youth sport association is hereby authorized to secure off-Guam liability and accident insurance for purposes of their participation in local inter-league plays and off-Guam participations. This authorization shall only be implemented after solicitations of local insurance companies is exhausted, and only if the rate of insurance by the local insurance company is more than twentyfive percent (25%) higher than those offered by the National or International Insurance Company.