12 Guam Code Ann. § 50106
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Terms Used In 12 Guam Code Ann. § 50106
- 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.
- Ex officio: Literally, by virtue of one's office.
The Governor of Guam, upon the recommendation of the Board and with the consent of the Guam Legislature, shall appoint an Administrator who shall be directly responsible to the Board for the day-to-day operation of the Corporation and shall administer its programs and policies. The Administrator shall be an ex officio member of the Board, without the right to vote therein. His term of office shall be fixed by the Board, unless sooner terminated by the Governor upon the recommendation of the Board.
SOURCE: GC § 53555.