(a) A foreign corporation authorized to transact business on Guam may not withdraw from Guam until it obtains a certificate of withdrawal from the Director of the Department of Revenue and Taxation.

(1) A foreign corporation authorized to transact business on Guam may apply for a certificate of withdrawal by delivering an application to the Director of the Department of Revenue and Taxation for filing. The application must set forth:

(i) the name of the foreign corporation and the name of the state or country under whose law it is incorporated;

(ii) that the corporation is not transacting business on Guam and that it surrenders its authority to transact business on Guam;

(iii) that the corporation revokes the authority of its registered agent to accept service of process on its behalf, and consents that service of process in any action, suit or proceeding based upon any cause of action during the time it was authorized to transact business on Guam may thereafter be made on such

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CH. 7 FOREIGN CORPORATIONS

corporation by service upon the Director of the Department of
Revenue and Taxation;

(iv) appoints the Director of the Department of Revenue and Taxation as its agent for a mailing address at which the service may be made under Paragraph (iii) of this Subsection;

(v) a commitment to notify the Director of the Department of Revenue and Taxation in the future of any change in its mailing address; and

(vi) such additional information as may be necessary or appropriate in order to enable the Director of the Department of Revenue and Taxation to determine and assess any unpaid fees or taxes payable by such foreign corporation.

(b) Such application may be made on forms prescribed and furnished by the Director, of the Department of Revenue and Taxation and shall be executed in duplicate by the corporation by its president, a vice-president and by its secretary or an assistant secretary, and verified by one (1) of the officers signing such application.

(c) After the withdrawal of the corporation is effective, service of process on the Director of the Department of Revenue and Taxation under this Section is service upon the foreign corporation. Upon receipt of process, the Director of the Department of Revenue and Taxation shall mail a copy of the process to the foreign corporation at the mailing address set forth under Subsection (b).

(d) The filing fee for application for a certificate of withdrawal shall be Twenty-five Dollars ($25.00).