14 Guam Code Ann. § 7104
Terms Used In 14 Guam Code Ann. § 7104
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Statute: A law passed by a legislature.
(2) An agency shall have all the powers, rights and privileges of a corporation, under the statute under which it is organized, except as the provisions of the statue are inconsistent with this Chapter.
(3) An agency shall not be conducted or operated for profit and no part of its net earnings or other assets shall inure to the benefit of any member or other person except to the extent necessary and appropriate to
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14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 7 NONPROFIT CONSUMER CREDIT COUNSELING AGENCIES
the accomplishment of its purposes under this Chapter.
(4) The certificate of incorporation of every corporation formed pursuant to the provisions of this Chapter shall have endorsed thereon or annexed thereto the approval of the Chairman of the Judicial Council of Guam. [Added by P.L. 9-253, approved September 4, 1968, effective June 30, 1969.]