Guam § 32306 - Filing Information.

§ 32306. Filing Information.

Each filing pursuant to this article shall contain the following

information:

(a) The name or names of the seller, including the name

under which the seller is doing or intends to do business, if

different from the name of the seller, and the name of any

parent or affiliated organization

(1) that will engage in business transactions with

purchasers relating to sales solicited by the seller or

(2) that accepts responsibility for statements made

by, or acts of, the seller relating to sales solicited by the

seller.

(b) The seller’s business form and place of organization

and, if the seller is a corporation, a copy of its articles of

incorporation, bylaws, and amendments thereto, or, if a

partnership, a copy of the partnership agreement, or if

operating under a fictitious business name, the location

where the fictitious name has been registered. All the same

information shall be included for any parent or affiliated

organization disclosed pursuant to subsection (a).

(c) The complete street address or addresses of all

locations, designating the principal location from which the

telephonic seller will be conducting business. If the principal

business location of the seller is not in Guam, then the seller

shall also designate a statutory agent within Guam who is

authorized to accept service of process.

COL10/29/2021

(d) A listing of all telephone numbers to be used by the

seller and the address where each telephone using each of

these telephone numbers is located.

(e) The names of, and the offices held by, the seller’s

officers, directors, trustees, general and limited partners, sole

proprietor, and owners, as the case may be, and the names of

those persons who have management responsibilities in

connection with the seller’s business activities.

(f) The complete address of the principal residence, the

date of birth, and the driver’s license number and state of

issuance of each of the persons whose names are disclosed

pursuant to subsection (e).

(g) A statement, meeting the requirements of this

subsection, as to both the seller, whether a corporation,

partnership, firm, association, joint venture, or any other type

of business entity (and whether or not identified pursuant to

subsection (e)), and as to any person identified pursuant to

subsection (e) who:

(1) Has been convicted of a felony or

misdemeanor. For the purposes of this subsection, a plea

of nolo contender is a conviction.

(2) Has at any time during the past seven (7) years

filed in bankruptcy or been adjudged a bankrupt.

(3) For purposes of paragraphs (1) and (2) above,

the statement shall identify the seller or person, the court

rendering the conviction or judgment, and the docket

number and date of the conviction or judgment.

(h) A list of the names and principal residence addresses

of salespersons who solicit on behalf of the telephonic seller

and the names the salespersons use while so soliciting.

(i) A description of the items the seller is offering for

sale and a copy of all sales scripts the telephonic seller

requires salespersons to use when soliciting prospective

purchasers, or if no sales script is required to be used, a

statement to that effect.

COL10/29/2021

(j) A copy of all sales information and literature

(including, but not limited to, scripts, outlines, instructions,

and information regarding how to conduct telephonic sales,

sample introductions, sample closings, product information,

and contest or premium- award information) provided by the

telephonic seller to salespersons or of which the seller

informs salespersons, and a copy of all written materials the

seller sends to any prospective or actual purchaser.

(k) If the telephonic seller represents or implies, or

directs salespersons to represent or imply, to purchasers that

the purchaser will receive certain specific items (including a

certificate of any type which the purchaser must redeem to

obtain the item described in the certificate) or one (1) or more

items from among designated items, whether the items are

denominated as gifts, premiums, bonuses, prizes, or

otherwise, the filing shall include the following:

(1) A list of the items offered.

(2) The value or worth of each item described to

prospective purchasers and the basis for the valuation.

(3) The price paid by the telephonic seller to its

supplier for each of these items and the name, address,

and telephone number of each item’s supplier.

(4) If the purchaser is to receive fewer than all of

the items described by the seller, the filing shall include

the odds a single prospective purchaser has of receiving

each item and the name and address of each recipient

who has, during the preceding twelve (12) months (or if

the seller has not been in business that long, during the

period the telephonic seller has been in business)

received the item having the greatest value and the item

with the smallest odds of being received.