Title 18 — Business Structure and Function
60 chapters · 1,419 sections in this title.
18 GCA § 16000 Citation
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This Chapter may be cited as the >Employee-Owned Company Law=.
18 GCA § 16001 Policy of the Law
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It is the policy of the law that government employees must have the opportunity to put their hard work, dedication and enterprise to work so that they may take full advantage of their hard work. When government functions are outsourced, government employees ought to have the oppo…
18 GCA § 16002 Employee-Owned Companies
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In this Chapter >Employee-Owned Company (EOC)= means any form of business organization described in this Title that is formed and organized by government of Guam employees whose jobs may be privatized or outsourced.
18 GCA § 16003 Same: Name
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The name of an Employee-Owned Company shall contain the letters EOC.
18 GCA § 16004 Displaced Employee
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COL120106 In this Chapter >Displaced Employee= means an employee who is or had been employed by an entity of the government that was or is scheduled to be outsourced or privatized and the employment was or may be terminated as a result of the outsourcing or privatization.
18 GCA § 16005 Same: Ownership
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Regardless of the business form of an EOC, the majority of the ownership and control of an EOC must, at the time of its formation and for five (5) years thereafter, be held by displaced employees.
18 GCA § 16006 Same: Conflict of Interest
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The provisions of 5 GCA §§ 5626, 5628, 5632 and 5633 shall not apply to an EOC or its owners when the EOC is attempting to acquire or participate in a contract with the government to provide services that have been or will be privatized or outsourced.
18 GCA § 16007 Small Business Development Center
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The Small Business Development Center of the University of Guam shall develop a program to assist employees in the formation of EOC=s. ---------- COL120106 COL120106