Guam § 10105 - Property to be Held in Trust.

§ 10105. Property to be Held in Trust.

From and after the filing with the Director of Revenue & Taxation of

the said articles of incorporation, verified by affidavit or affirmation as

COL070307

18 GCA BUSINESS S TRUCTURE & FUNCTION

aforesaid and accompanied by the copy of the commission, certificate of

election, of letters of appointment of the bishop, chief priest, or presiding

elder, duly certified as prescribed in § 10104, such bishop, chief priest, or

presiding elder, as the case may be, shall become a corporation sole, and all

temporalities, estates and properties of the religious denomination, society,

or church theretofore administered or managed by him as such bishop, chief

priest, or presiding elder shall be held in trust by him as a corporation sole

for the use, purpose, behoof, and sole benefit of his religious denomination,

society, or church, including hospitals, schools, colleges, orphan asylums,

parsonages, and cemeteries thereof. For the filing of such articles of incor-

poration the Director of Revenue & Taxation shall collect Twelve Dollars

and Fifty cents ($12.50).