11 Guam Code Ann. § 110101
Terms Used In 11 Guam Code Ann. § 110101
- 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.
- Oath: A promise to tell the truth.
Association means any savings and loan association, as defined in Section 110102 of this Chapter.
Domestic association means an association incorporated under the laws of this territory.
Commissioner means the Savings and Loan Commissioner.
Shares means withdrawable shares of an association; which shares shall constitute and may be designated membership shares. Pledged shares means shares pledged as security for the payment of a loan from the association issuing such shares. Free shares means all other shares. Full paid shares, Installment shares, accumulative shares and prepaid shares are defined in Section 116102 of this act.
Stock means guarantee stock of an association.
Investment certificates means instruments issued by an association, pursuant to Section 121101 of this act, which expressly state that the right of the holder thereof to withdraw funds evidenced thereby is subject to the provisions of Chapter 124 of this Act, and which otherwise confirm to the provisions of this act applicable thereto. Full paid investment certificate, installment investment certificate, and accumulative investment certificate, are defined in Section 121101 of this act.
Shareholder and member are synonymous and mean the holder of one or more shares or of a fraction thereof; provided, however, that in the case of any association which shall provide by its by- laws, pursuant to any provisions of this act, that every person, firm, copartnership, association or corporation holding a certificate of membership as a borrower from such association shall be a member
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11 Guam Code Ann. FINANCE & TAXATION
CH. 110 DEFINITIONS
thereof, each person, firm, copartnership, association or corporation holding such certificate of membership shall be a member thereof. Stockholder means the holder of stock. Certificate holder means the holder of one or more investment certificates. Investor includes shareholder, stockholder and certificate holder.
The value of shares or investment certificates means the amount paid in upon such shares or investment certificates, plus the accumulated earnings or interest accrued thereon, loss any withdrawals therefrom and charges there against. The matured value of a share shall be equal to the par value thereof.
Redemption price is defined in Section 121104 of this act, and
withdrawal value in Section 124101 thereof.
Advertisement includes advertisement, circular, pamphlet, prospectus, letterhead, circular letter, newspaper, billboard, sign, and also statements broadcast by radio or television.
Consent when referring to an act of the Commissioner means written consent.
Words used in this act in the present tense include the future as well as the present; words used in the masculine gender include the feminine and neuter, and in the neuter gender include the masculine and feminine, the singular number includes the plural, and the plural includes the singular; writing includes also printing and typewriting; oath includes also affirmation.
SOURCE: GC §41000.