11 Guam Code Ann. § 76503
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Terms Used In 11 Guam Code Ann. § 76503
- 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.
- 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.
- Service of process: The service of writs or summonses to the appropriate party.
A corporation engaged solely in Trade, upon providing satisfactory evidence to the Director of Revenue & Taxation that:
(a) it is properly incorporated either in Guam or some other jurisdiction of the United States;
(b) it has appointed a resident agent for service of process; and
(c) as far as its activities in Guam are concerned, it intends to engage solely in Trade;
shall be issued a certificate by the Director indicating that it is authorized to carry on Trade and that all other provisions of the Business License Law are inapplicable to it. Said certificate shall be known as the Trader’s Certificate.
SOURCE: GC § 16352 added by P.L. 15-40. Amended by P.L. 15-55:5.