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Terms Used In 21 Guam Code Ann. § 63105

  • 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.
  • Trustee: A person or institution holding and administering property in trust.
(a) No member of the Commission or employee of the Commission shall participate, in any official capacity whatsoever, in any proceeding, hearing, application, request for ruling or other official determination, judicial or otherwise, in which any of the following has a financial interests; the member or employee himself; his spouse, his child; his partner; any organization in which he is then serving or has, within two (2) years prior to his selection or appointment to or employment by the Commission, served in the capacity of officer, director, trustee, partner, employer or employee;

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21 Guam Code Ann. REAL PROPERTY
CH. 63 TERRITORIAL SEASHORE PROTECTION ACT OF 1974

any organization within which he is negotiating for or has any arrangement or understanding concerning prospective partnership or employment.
(b) In any case within the coverage of this section, the prohibitions herein contained shall not apply if the person concerned advises the Board in advance of the nature and circumstances thereof, including full public disclosure of the facts which may potentially give rise to a violation of this article, and obtains from the Board a written determination that the contemplated action will not adversely affect the integrity of the Commis- sion. Any such determination shall require the affirmative vote of two-thirds of the members of the Board.

(c) Any person who violates any provision of this section shall be guilty of a felony.
SOURCE: GC ‘13414 enacted by P.L. 12-108; subsection (c) as amended by P.L. 13-
187:112.