Governing Law

(a) The law of the jurisdiction of formation of a foreign cooperative governs: (1) the internal affairs of the cooperative; and (2) the liability that a person has as a member or director for a debt, obligation, or liability of the cooperative. (b) A foreign cooperative is not precluded from registering to do business in Guam because of any difference between the laws of its jurisdiction of formation and the laws of Guam. (c) Registration of a foreign cooperative to do business in Guam does not authorize the foreign cooperative to engage in any activities and affairs or exercise any power that a limited cooperative association may not engage in or exercise in Guam.