License and certificate of registration required.

No foreign corporation or corporation formed, organized, or existing under laws other than those of Guam shall be permitted to transact business in Guam until it shall have obtained a foreign corporation license and certificate of registration from the Director of Revenue and Taxation upon written order of the Governor of Guam. No order for a foreign corporation license and certificate of registration will be issued by the Governor of Guam, except upon a statement under oath of the managing agent of the corporation showing to the satisfaction of the Governor that the corporation is solvent and in sound financial condition, and setting forth the resources and liabilities of the corporation within a number of days to be fixed by the Governor of Guam, prior to the date of presenting the statement, as follows:

(a) The name of the corporation;

(b) The purpose for which it was organized;

(c) The location of its principal or home office;

(d) The capital stock of the corporation and the amount thereof actually subscribed and paid into the treasury on the ______ (insert date, month, and year).

(e) The net assets of the corporation over and above all debts, liabilities, obligations, and claims outstanding against it on the _____ (insert date, month, and year).

(f) The name of the agent, residing in Guam, authorized by the corporation to accept summons and process in all legal proceedings against the corporation and of all notices affecting the corporation.

Provided, however, that the Governor of Guam before ordering that a foreign corporation license and certificate of registration be issued in the case of any particular corporation, may require further evidence of the solvency and fair dealing of the corporation, if in his judgment such further information is essential.

Accompanying the statement, there must be a certified copy of the articles of incorporation and a certificate that the corporation has been established according to the laws of the place where incorporated. Said certificate, in the case of companies incorporated in the United States or its possessions, must be under notarial seal; and, in the case of other foreign corporations, must be issued by a United States Consul.

Upon filing in the Department of Revenue and Taxation the foregoing statement, etc., and the order of the Governor, the Director of Revenue and Taxation shall issue to the foreign corporation a foreign corporation license and certificate of registration. For the issuance of such certificate of registration, the Director of Revenue and Taxation shall collect a fee.

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