21 Guam Code Ann. § 104221
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Terms Used In 21 Guam Code Ann. § 104221
- 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.
When a real estate license is issued to a corporation, if it desires any of its officers other than the officer designated by it pursuant to ‘ 58213, to act under its license as a real estate broker, it shall procure an additional license to so employ each of such additional officers. When a real estate license is granted to a copartnership, if it desires any of its members other than the one or ones through whom it is already licensed to act as a real estate broker, it shall procure an additional license to so employ each of such additional members.
SOURCE: GC § 58170.
SOURCE: GC § 58170.
§ 104222. Same: Officer or Member Licensed Only to Act for
Corporation or Partnership.
Each officer of a corporation through whom it is licensed to act as a real estate broker, and each member of a co-partnership through whom it is licensed to act as a real estate broker, is, while so employed under such license, a licensed real estate broker, but licensed only to act as such for and on behalf of the corporation or the copartnership, as officer or member, respectively.
SOURCE: GC § 58171.