18 Guam Code Ann. § 7107
Terms Used In 18 Guam Code Ann. § 7107
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
certificate of authority to transact business on Guam:
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18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 7 FOREIGN CORPORATIONS
(1) may add the word >corporation,= >incorporated,= >company,= or
>limited,= or the abbreviations >corp.,= >inc.,= >co.,= or >ltd.,= to its
corporate name for use in Guam; or
(2) may use a fictitious name to transact business on Guam if its real name is unavailable and it delivers to the Director of the Department of Revenue and Taxation for filing a copy of the resolution of its Board of Directors, certified by its secretary, adopting the fictitious name.
(b) Except as authorized by Subsections (d) and (e) of this Section, the corporate name, including a fictitious name, of a foreign corporation must be distinguishable upon the records of the Director of the Department of Revenue and Taxation from:
(1) the name of any domestic and foreign corporation, partnership, limited liability company, limited partnership or limited liability partnership organized under the laws of Guam or authorized to transact business on Guam;
(2) a corporate name reserved or registered under ‘2110.1 and
‘2110.2;
(3) the fictitious name of another foreign corporation authorized to transact business on Guam; or
(4) the name of a not-for-profit corporation incorporated or authorized to transact business on Guam.
(c) A foreign corporation may apply to the Director of the Department of Revenue and Taxation for authorization to use on Guam a name of another domestic or foreign corporation incorporated or authorized to transact business on Guam that is not distinguishable upon the
corporation=s records from the name applied for. The Director of the
Department of Revenue and Taxation shall authorize use of the name applied for if:
(1) the other corporation consents to the use in writing and submits an undertaking in form satisfactory to the Director of the Department of Revenue and Taxation to change its name to a name that is distinguishable upon the records of the Director of the Department of Revenue and Taxation from the name of the applying corporation; or
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18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 7 FOREIGN CORPORATIONS
(2) the applicant delivers to the Director of the Department of
Revenue and Taxation a certified copy of a final judgment of a court of competent jurisdiction establishing the applicant=s right to use the
name applied for on Guam.
(d) A foreign corporation may use on Guam a name which is the same as the name, including the fictitious name, of another domestic or foreign corporation organized under the laws of Guam, or authorized to transact business on Guam, if the foreign corporation:
(1) has merged with the other corporation;
(2) has been formed by reorganization of the other corporation; or
(3) has acquired all, or substantially all, of the assets, including the corporate name, of the other corporation.
(e) If a foreign corporation authorized to transact business on Guam changes its corporate name to one that does not satisfy the requirements of
‘2110, it may not transact business on Guam under the changed name, until
it adopts a name satisfying the requirements of ‘2110 and obtains an
amended certificate of authority under § 7105.