Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In 12 Guam Code Ann. § 50302

  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
For purposes of this Section, except as otherwise specifically provided, the following words and phrases, together with all of the common derivatives thereof (i.e. verbs, plurals, feminine, gender, etc.) shall have the meaning ascribed to them in this Section.

(a) applicant means a small or midsize business;

(b) Administrator means the Administrator of the Guam
Economic Development Authority;

(c) eligible government project means a project that will affect one or more small or mid-size businesses as a result of construction work because the construction is anticipated to impair access for a minimum period of one month;

(d) project means any improvement or alteration to real property, including demolition work to clear a site;

(e) government means the government of Guam or its instrumentality;

(f) small business means a business that generates gross profit less than or equal to Two Hundred Thousand Dollars ($200,000) on an annual basis, and is located in an area that is adjacent to an eligible government project;

(g) mid-size business means a business that generates gross profit less than or equal to One Million Dollars ($1,000,000) and gross sales less than or equal to Two Million Dollars ($2,000,000) on an annual basis, and is located in an area that is adjacent to an eligible government project; and

(h) Program means the Government of Guam Mitigation
Program for Business Interruption.