5 Guam Code Ann. § 69101
Terms Used In 5 Guam Code Ann. § 69101
- 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.
Corporation Act.
§ 69102. Name, Formation, Responsibilities and Abilities of the
Corporation.
There is hereby authorized the establishment of a “”Guam Slaughterhouse Corporation”” (“”Corporation””) to accomplish the mandate of this Act. Subject to Guam laws, the Corporation shall have the abilities and responsibilities of a privately-owned commercial corporation and be subject to the same tax laws as privately-owned corporations, including the Guam Business Privilege Tax. As a private commercial corporation, however, it shall be exempt from government of Guam rules, regulations and other requirements regarding hiring, personnel management and procurement.
SOURCE: Amended by P.L. 25-59:2. Amended by P.L. 29-002:VI:28 (May 18,
2007) the name, Gross Receipts Tax, changed to Business Privilege Tax, effective
July 17, 2007.