21 Guam Code Ann. § 70115
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Terms Used In 21 Guam Code Ann. § 70115
- 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.
- 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.
Within forty-five (45) days after the filing of a proper application for a license and the payment of the required fees, the Contractors License Board shall:
(a) Conduct an investigation of the applicant and in such investigation may post pertinent information, including, but not limited to, the name and address of the applicant, and if the applicant is associated in any partnership, corporation or other entity, the names, addresses and official capacities of associates; and
(b) Either issue a license to the applicant or else notify
the applicant in writing by registered mail of the Board’s decision not to grant the license and specifically notify applicant of the right to have a hearing within fifteen (15) days from the receipt of the Board’s decision. The hearing shall be conducted in accordance with § 70117.