21 Guam Code Ann. § 17102
Terms Used In 21 Guam Code Ann. § 17102
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
COL120106
21 Guam Code Ann. REAL PROPERTY
CH. 17 RELOCATION ASSISTANCE ACT
(a) Agency means any department, agency or instrumentality of the government.
(b) Person means any individual, partnership, corporation, or association.
(c) Displaced Person means any person who, on or after the effective date of this Chapter, moves from real property, or moves his personal property from real property, as a result of the acquisition of such real property, in whole or in part, or as a result of the written order of the acquiring agency to vacate real property, for a program or project undertaken by an agency; and solely for the purposes of § 17103(a) and (b) and § 17106 of this Chapter, as a result of the acquisition of or as the result of the written order of the acquiring agency to vacate other real property, on which such person conducts a business or farm operation, for such program or project.
(d) Nonprofit Organization means a nonprofit organization as defined in ‘501 of the U.S. Internal Revenue Code.
(e) Business means any lawful activity, excepting a farm operation, conducted primarily:
(1) for the purchase, sale, lease and rental of personal and real property, and for manufacture, processing, or marketing of products, commodities, or any other personal property;
(2) for the sale of services to the public; (3) by a nonprofit organization; or
(4) solely for the purposes of § 17103(a) of this Chapter, for
assisting in the purchase, sale, resale, manufacture, processing, or marketing of products, commodities, personal property, or services by the erection and maintenance of an outdoor advertising display or displays, whether or not such display or displays are located on the premises on which any of the above activities are conducted.
(f) Farm Operation means any activity conducted solely or primarily for the production of one or more agricultural products or commodities, including timber, for sale or home use, and customarily producing such products or commodities, in sufficient quantity to be capable of contributing materially to the operator’s support.
SOURCE: GC § 13979.1 enacted by P.L. 11-160.
COL120106
21 Guam Code Ann. REAL PROPERTY
CH. 17 RELOCATION ASSISTANCE ACT