4 Guam Code Ann. § 15102
Terms Used In 4 Guam Code Ann. § 15102
- 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.
- Dependent: A person dependent for support upon another.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) business includes any corporation, partnership, any
sole proprietorship, any trust or foundation, or any other individual or organization carrying on any business whether or not operated for profit;
(b) compensation means any money, thing of value or economic benefit conferred on or received by any person subject to this Chapter, in return for services rendered or to be rendered by himself or another;
(c) controlling interest means any proprietary or ownership interest in a business or other undertaking;
(d) employee means any nominated, appointed, or elected officer or individual employed with a Guam agency as defined herein, including members of boards or commissions, and persons under personal services contracts;
(e) employment means any rendering of services for compensation;
(f) financial interest means an interest held by an individual, his or her spouse, natural, adopted, or dependent children, parents, parents-in-law, siblings, or siblings-in-law which is:
(1) an ownership interest in a business;
(2) a creditor interest in an insolvent business;
(3) an employment, or prospective employment for which negotiations have begun;
(4) an ownership interest in personal or real property;
(5) a loan or other debtor interest; or
(6) a directorship or officership in a business.
(g) judicial officers includes the Justices of the Supreme Court, whether full- or part-time, and Judges of the Superior Court, including Judges pro tem and referees;
(h) legislator means any duly elected members of the
Guam Legislature;
(i) official act or official action means a decision,
recommendation, approval, disapproval, or other action, including inaction which involves the use of discretionary and non-discretionary authority;
(j) official authority includes administrative, judicial or legislative powers of decision, recommendation, approval, disapproval, or other discretionary or non-discretionary action; and
(k) Guam agency or agency shall mean every branch of government, public corporations, all government of Guam departments, bureaus, and line agencies, autonomous and semi-autonomous agencies, instrumentalities, entities or sub-entities thereof, the Mayor’s Council, and Mayors’ Offices.
SOURCE: Section 15102 added by P.L. 23-105:1 (July 8, 1996). Subsection (f) amended by P.L. 30-030:2 (June 16, 2009).
2021 NOTE: References to “”territorial”” replaced with “”Guam”” pursuant to 1 Guam Code Ann. § 420.
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