10 Guam Code Ann. § 85113
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Terms Used In 10 Guam Code Ann. § 85113
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
There is transferred to the corporation all items of property and personnel now assigned to the Guam Memorial Health Plan by the Guam Memorial Hospital Authority.
On the first day of the month following the incorporation of the Corporation, all working capital, cash, accounts payable and receivable, all financial books, records and all other rights, obligations, assets, liabilities, contractual agreements, chooses in action and privileges pertaining to the properties and operation of existing Guam Memorial Health Plan shall be transferred to the Corporation.
On the first day of the month following the incorporation of the Corporation, all working capital, cash, accounts payable and receivable, all financial books, records and all other rights, obligations, assets, liabilities, contractual agreements, chooses in action and privileges pertaining to the properties and operation of existing Guam Memorial Health Plan shall be transferred to the Corporation.
SOURCE: GC § 49032.