10 Guam Code Ann. § 85106
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Terms Used In 10 Guam Code Ann. § 85106
- 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.
- Quorum: The number of legislators that must be present to do business.
(a) The Board of Trustees shall consist of seven (7) members who shall be appointed by the Governor with the advice and consent of the Legislature. The quorum of the Board shall consist of five (5) trustees. Action by the Board shall require the affirmative vote of five (5) trustees. Vacancies on the Board shall be filled for the unexpired term of the retiring member. The Board shall elect a chairperson, vice chairperson and a secre- tary/treasurer, among its members.
(b) The Board shall meet within ten (10) days after five (5) members take office for the purpose of adopting articles of incorporation and bylaws. The Corporation shall be a non-stock public corporation.
(c) Trustees shall not be members of the Guam Memorial Hospital Authority, employees of the Corporation, providers of services or supplies to the Corporation, employees or shareholders of any health maintenance organization or health insurance business on Guam.
(b) The Board shall meet within ten (10) days after five (5) members take office for the purpose of adopting articles of incorporation and bylaws. The Corporation shall be a non-stock public corporation.
(c) Trustees shall not be members of the Guam Memorial Hospital Authority, employees of the Corporation, providers of services or supplies to the Corporation, employees or shareholders of any health maintenance organization or health insurance business on Guam.
SOURCE: GC § 49025.