10 Guam Code Ann. § 46102
Terms Used In 10 Guam Code Ann. § 46102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(b) Water shall be construed to include ponds, springs, wells and streams and all other bodies of surface or underground water, natural or artificial, inland or coastal, fresh or salt, public or private.
(c) Well shall be construed to mean any hole drilled, dug, or bored at any angle, either cased or uncased, for the purpose of obtaining water or knowledge of water-bearing formations or for the disposal of surface water drainage or waste materials. This definition shall not include wells used for the purpose of (1) dewatering embankments during construction, or (2) stabilizing hillsides or earth embankments.
(d) Beneficial use of water shall include the use of water reasonably required for domestic, agricultural, commercial, industrial, recreational and other purposes on both public and private lands. The use of water for domestic purposes is defined as the highest beneficial use of water.