18 Guam Code Ann. § 7304
Terms Used In 18 Guam Code Ann. § 7304
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(b) Except as authorized by Subsections (c) and (d), the name, including a fictitious name to be used to transact business in Guam, of a foreign limited liability company must be distinguishable upon the records of the Department of Revenue and Taxation from:
(1) the name of any corporation, limited partnership, or company incorporated, organized, or authorized to transact business in Guam;
(2) a name reserved or registered; and
(3) the fictitious name of another foreign limited liability company authorized to transact business in Guam.
(c) A foreign limited liability company may apply to the Department of Revenue and Taxation for authority to use in Guam a name that is not distinguishable upon the records of the Department of Revenue and Taxation from a name described in Subsection (b). The Department of Revenue and Taxation shall authorize use of the name applied for, if:
(1) the present user, registrant, or owner of a reserved name consents to the use in a record and submits an undertaking in form satisfactory to the Department of Revenue and Taxation to change its name to a name that is distinguishable upon the records of the Department of Revenue and Taxation from the name of the foreign applying limited liability company; or
(2) the applicant delivers to the Department of Revenue and
Taxation a certified copy of a final judgment of a court establishing the applicant=s right to use the name applied for in Guam.
(d) A foreign limited liability company may use in Guam the name, including the fictitious name, of another domestic or foreign entity that is
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18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 7 FOREIGN CORPORATIONS
used in Guam, if the other entity is incorporated, organized, or authorized to transact business in Guam and the foreign limited liability company:
(1) has merged with the other entity;
(2) has been formed by reorganization of the other entity; or
(3) has acquired all or substantially all of the assets, including the name, of the other entity.