Guam § 15138 - Annual Report of Domestic and Foreign Limited

§ 15138. Annual Report of Domestic and Foreign Limited

Liability Companies.

(a) Each domestic limited liability company and each

foreign limited liability company, authorized to transact business

on Guam, shall file with the Director of Revenue and Taxation a

sworn annual report that sets forth:

(1) The name of the limited liability company and, if a

foreign limited liability company, the state or country under

whose laws it is organized;

(2) The date of organization or, if a foreign limited

liability company, the date on which it was authorized to

transact business on Guam;

(3) The address of the principal office of the limited

liability company;

(4) If the management of the limited liability company

is vested in its members, the name and address of each

member;

(5) If the management of the limited liability company

is vested in one (I) or more managers, the name and address

of each manager; and

(6) A brief statement of the nature of the business

which the limited liability company actually conducts on

Guam.

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(b) The information contained in the annual report shall be

current as of the date the annual report is filed.

(c) The first annual report must be delivered to the Director

between July 1 and September 1, or such other date as the

Director may specify by rule or regulation, of the year following

the calendar year in which a domestic limited liability company

was organized, or a foreign limited liability company was

authorized to transact business on Guam. Subsequent annual

reports must be delivered to the Director between July 1 and

September 1, or such other date as the Director may specify by

rule or regulation, of every successive calendar year.

(d) If an annual report does not contain the information

required by this Section, the Director shall so notify the reporting

limited liability company in writing and return the annual report

to it for correction. If the annual report is corrected to contain the

information required by this Section, and delivered to the

Director within thirty (30) days after the date of the notice, it

shall be deemed to be timely filed.

(e) A limited liability company may file an amendment to

the annual report if a change in the information set forth in said

report occurs after it is filed at the Department and before the

next anniversary. This Subsection applies only to a change that is

not required to be made by an amendment to the Articles of

Incorporation. The amendment to the annual report must set

forth:

(1) the name of the limited liability company, as shown

on the records of the Department of Revenue and Taxation;

and

(2) the information required by Subsection (a) hereof

as changed.

(f) Any limited liability company failing to file an annual

report that complies herewith within sixty (60) days after it is

due shall pay, in addition to the regular annual report fee, the

sum of Fifty Dollars ($50.00), provided that the annual report is

filed prior to revocation as provided in this Title, and shall be

subject to dissolution or cancellation of its Certificate of

Authority to transact business as provided in this Chapter.

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(g) The filing fee for an annual report shall be One Hundred

Dollars ($100.00).

(h) Any limited liability company which is required to file

or provide an annual report with another government agency or

regulating body may satisfy the requirements of this Section by

filing the same report with the Director, provided that the

Director has determined in writing that the report contains the

same or substantially similar information as that required by this

Section.