(a) Each domestic limited liability company and each foreign limited liability company, authorized to transact business on Guam, shall file with the Director of Revenue and Taxation a sworn annual report that sets forth:

(1) The name of the limited liability company and, if a foreign limited liability company, the state or country under whose laws it is organized;

(2) The date of organization or, if a foreign limited liability company, the date on which it was authorized to transact business on Guam;

(3) The address of the principal office of the limited liability company;

(4) If the management of the limited liability company is vested in its members, the name and address of each member;

(5) If the management of the limited liability company is vested in one (I) or more managers, the name and address of each manager; and

(6) A brief statement of the nature of the business which the limited liability company actually conducts on Guam.

(b) The information contained in the annual report shall be current as of the date the annual report is filed.

(c) The first annual report must be delivered to the Director between July 1 and September 1, or such other date as the Director may specify by rule or regulation, of the year following the calendar year in which a domestic limited liability company was organized, or a foreign limited liability company was authorized to transact business on Guam. Subsequent annual reports must be delivered to the Director between July 1 and September 1, or such other date as the Director may specify by rule or regulation, of every successive calendar year.

(d) If an annual report does not contain the information required by this Section, the Director shall so notify the reporting limited liability company in writing and return the annual report to it for correction. If the annual report is corrected to contain the information required by this Section, and delivered to the Director within thirty (30) days after the date of the notice, it shall be deemed to be timely filed.

(e) A limited liability company may file an amendment to the annual report if a change in the information set forth in said report occurs after it is filed at the Department and before the next anniversary. This Subsection applies only to a change that is not required to be made by an amendment to the Articles of Incorporation. The amendment to the annual report must set forth:

(1) the name of the limited liability company, as shown on the records of the Department of Revenue and Taxation; and

(2) the information required by Subsection (a) hereof as changed.

(f) Any limited liability company failing to file an annual report that complies herewith within sixty (60) days after it is due shall pay, in addition to the regular annual report fee, the sum of Fifty Dollars ($50.00), provided that the annual report is filed prior to revocation as provided in this Title, and shall be subject to dissolution or cancellation of its Certificate of Authority to transact business as provided in this Chapter.(g) The filing fee for an annual report shall be One Hundred
Dollars ($100.00).

(h) Any limited liability company which is required to file or provide an annual report with another government agency or regulating body may satisfy the requirements of this Section by filing the same report with the Director, provided that the Director has determined in writing that the report contains the same or substantially similar information as that required by this Section.

SOURCE: Added by P.L. 28-180:3 (Jan. 29, 2007).

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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 15 LIMITED LIABILITY COMPANIES