18 Guam Code Ann. § 10103
Terms Used In 18 Guam Code Ann. § 10103
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 10 RELIGIOUS AND NONPROFIT CORPORATIONS
In order to become a corporation sole, the bishop, chief priest, or presiding elder of any religious denomination, society, or church must file with the Director of Revenue & Taxation articles of incorporation setting forth the following facts:
(a) That he is the bishop, chief priest, or presiding elder of his religious denomination, society, or church and that he desires to become a corporation sole.
(b) That the rules, regulations and discipline of his religious denomination, society, or church are not inconsistent with his be- coming a corporation sole;
(c) That as such bishop, chief priest, or presiding elder he is charged with the administration of the temporalities and the manage- ment of the estates and properties of his religious denomination, society, or church within his territorial jurisdiction, describing it;
(d) The manner in which any vacancy occurring in the office of bishop, chief priest, or presiding elder is required to be filled according to the rules, regulations, or discipline of the religious denomination, society, or church to which he belongs;
(e) The place where the principal office of the corporation sole is to be established and located, which place must be within Guam.
(f) The fee for the filing of the articles of association or articles of incorporation of a non-profit association shall be Fifty Dollars ($50.00).
SOURCE: CC § 502. Subsection (f) added by P.L. 29-002:V:I:64 (May 18, 2007).