Associations as defined in this Chapter shall not be subject to the provisions of 11 Guam Code Ann., Chapter 26, Article 2, the Business Privilege Tax Law and the income of said association shall not be taxable under the laws of the Territory of Guam.

SOURCE: CC § 650.31. Amended by P.L. 29-002:VI:28 (May 18, 2007) the name, Gross Receipts Tax, changed to Business Privilege Tax.