12 Guam Code Ann. § 76103
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 12 Guam Code Ann. § 76103
- 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.
e Board shall be responsible for the overall management, administration, policies and direction of GTAF and shall exercise supervision through an agent or agents duly appointed. The Board shall meet in regular session at least once per month and in special session as often as it may deem necessary. A majority of the Board shall constitute a quorum for the transaction of business. The Board shall act by the vote of at least six (6) of its members. Members of the Board shall receive no salary for their services, but in amounts prescribed by the Board may receive reasonable travel allowances for time spent on official business of GTAF. As a subsidiary corporation of the Authority, GTAF shall receive all general administrative support as may be needed by GTAF to operate and function, including but not limited to fund accounting, purchasing, contracting and general supervision.
———-
COL 110609