Local Production Companies Exempt

In addition to the General Exemptions authorized in § 3207 of this Article, the provisions of this Article and the rules, regulations, and requirements authorized herein shall not apply to or affect local production companies if:

(a)the production company was incorporated in Guam;

(b)the principal owner(s) is a resident of Guam and has filed individual tax returns in Guam for a period of at least three

(3)years;

(c)the production headquarters in Guam; company maintains its

(d)the production company is licensed to do business in Guam;

(e)the daily operations of the production company are managed by a resident of Guam; and

(f)the production company ensures, to the maximum extent possible, the accuracy or appropriateness of the COL1/24/2020 CH. 3 GUAM EDUCATIONAL TELECOMMUNICATIONS CORPORATION presentation, interpretation, and usage of tangible and intangible aspects of the CHamoru culture and heritage as may be practicable in the production of films, videos, audio recordings, music recordings, computer-generated imagery and other media-related products.