12 Guam Code Ann. § 68121
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Terms Used In 12 Guam Code Ann. § 68121
- Contract: A legal written agreement that becomes binding when signed.
- 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.
any member, officer or employee of the Board shall be interested either directly or indirectly, or shall be an officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly in any contract with the Board, such interest shall be disclosed to the Board and shall be set forth in the minutes of the Board, and the member, officer or employee having such interest therein shall not participate on behalf of the Board in the authorization of any such contract.
SOURCE: GC §53608.20, as added by P.L. 12-69.