22 Guam Code Ann. § 15303
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Terms Used In 22 Guam Code Ann. § 15303
- 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.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Any number of persons sufficient to organize a corporation in Guam may file an application with the Commissioner for authority to organize as an insurance corporation. No person shall organize an insurance corporation until written authority for that purpose has been obtained from the Commissioner. The application shall be in duplicate and shall contain the information required herein.
(a) The proposed location of its principal office, amount of paid-in capital, and corporate name which shall include the word insurance;
(b) The proposed articles of incorporation showing the classes of insurance business which it proposes to transact;
(c) Evidence of the character, financial responsibility, business experience and ability of the proposed incorporators, directors and officers;
(d) All other information required to be filed with the articles of incorporation under the laws of the Territory of Guam for the purpose of receiving a corporate charter, or by regulations of the Commissioner, or specifically requested of the incorporators by the Commissioner.
SOURCE: GC § 43152.