11 Guam Code Ann. § 106725
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Terms Used In 11 Guam Code Ann. § 106725
- 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.
The Commissioner shall convey to the Board his recommendation as to whether the application of a foreign banking corporation should be approved. The Board may, in its discretion, direct License Division of the Department to issue such license to such corporation when it is satisfied that the corporation has met all the requirements of this Chapter. The license shall authorize the corporation to transact the business permitted by § 106727 at the location specified therein. No such license shall be transferrable or assignable. Each such license shall be conspicu- ously displayed at all times in the, place of business specified therein.
SOURCE: GC § 30924. Added by P.L. 13-111:5.