12 Guam Code Ann. § 58107
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Terms Used In 12 Guam Code Ann. § 58107
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
A Qualifying Certificate, once issued, shall be a contract between the government of Guam and the Beneficiary, and the tax rebates or abatements or both set out in the Certificate may not be curtailed, limited or impaired without the consent of both parties by any subsequent act, except as provided herein. Once issued and unless suspended, rescinded or revoked, a Qualifying Certificate shall constitute conclusive evidence of entitlement to the tax rebates or abatements or both set out on its face.