§ 51108 Effective Date
§ 51102 Deposit of Funds
§ 51103 Expenditures from the Trust Fund
§ 51104 Contracts
§ 51105 Prohibitions Against Encumbrances
§ 51106 Reports
§ 51107 No Transfer Authority
§ 51108 v2 Effective Date

Terms Used In Guam Code > Title 11 > Chapter 51 - Income Tax Refund Efficient Payment Trust Fund Act of 2002

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.