12 Guam Code Ann. § 1109
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Terms Used In 12 Guam Code Ann. § 1109
- 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.
As an instrumentality of the government of Guam, the Authority and all property acquired by or for it and all revenues and income therefrom are exempt from taxation by the government of Guam or by any political subdivision or public corporation thereof and from all taxes imposed under the authority of the Legislature, or with respect to which the Legislature is authorized to grant exemption.
SOURCE: GC § 62008, as enacted by P.L. 13-057 (Sept. 26, 1975).