11 Guam Code Ann. § 133107
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Terms Used In 11 Guam Code Ann. § 133107
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
The Commissioner shall have power in his discretion to require each association to mail once in each year within sixty days after the close of its fiscal year to each of the investors of such association a copy of a financial statement, showing, in such form and detail as the commissioner may require, the amount and character of the assets, and liabilities of such association at the end of its preceding fiscal year; provided, however, that any association in lieu of mailing such financial statements to its investors as aforesaid may publish a copy of such financial statement in any newspaper of general circulation published in Guam.
SOURCE: GC §41506.