(a) A foreign cooperative may not do business in Guam until it registers with the Director of Department of Revenue and Taxation under this Article. A foreign cooperative shall not transact business in Guam until it obtains both a business license and a certificate of authority to do so from the Director. (b) A foreign cooperative doing business in Guam may not maintain an action or proceeding in Guam unless it is registered to do business in Guam. (c) The failure of a foreign cooperative to register to do business in Guam does not impair the validity of a contract or act of the foreign cooperative or preclude it from defending an action or proceeding in Guam. (d) A limitation on the liability of a member or director of a foreign cooperative is not waived solely because the foreign cooperative does business in Guam without registering to do business in Guam. (e) Subsections 171501(a) and (b) apply even if a foreign cooperative fails to register under this Article.
COL 2025-04-22