5 Guam Code Ann. § 87105
Terms Used In 5 Guam Code Ann. § 87105
- 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.
- Quorum: The number of legislators that must be present to do business.
- Trustee: A person or institution holding and administering property in trust.
COL222017
5 Guam Code Ann. GOVERNMENT OPERATIONS
CH. 87 DIPATTAMENTON I KAOHAO GUINAHAN CHAMORRO
(DEPARTMENT OF CHAMORRO AFFAIRS)
and be exercised by and under the direction of a Board of Trustees (‘Trustees’), composed of nine (9) members. The Trustees shall be U.S. citizens and residents of Guam and no less than five (5), or fifty percent (50%) of the members of the governing body, must be Chamorro, defined as residents of the Marianas Islands as of 1898, or descendants thereof. Trustees shall be appointed who possess the qualities, knowledge, experience and diversified ability necessary to pursue effectively the programs of the Corporation. The Chairperson shall be a Trustee and shall be elected by a majority of the Trustees.
(b) I Maga’lahen Guåhan shall appoint the Trustees of the Corporation, which shall be comprised of representatives in each of the field of business, history or archaeology, tourism, economics or finance, Chamorro language and culture, arts and three (3) members at large.
(c) The initial appointment for four (4) of the nine (9) members shall be for two (2) year terms, thereafter becoming four (4) year terms; and the remaining five (5) members shall have initial and subsequent four (4) year terms.
(d) Five (5) Trustees constitute a quorum, and five (5) affirmative votes are required for the transaction of all business. The Trustees shall meet in regular session at least once each month and in special session as the Chair may deem necessary. All meetings of the Trustees are open to the public, as provided by law.
(e) Each Trustee shall receive Fifty Dollars ($50.00) for attendance at any meeting of the Trustees, but this stipend shall not apply to more than two (2) meetings in any one (1) calendar month. No member shall receive any other compensation, but shall be reimbursed for actual travel, subsistence and out-of-pocket expenses incurred in the discharge of responsibilities, including authorized attendance at meetings held off- Island, subject to the prior approval of the Board of Trustees.