Registered Agent

(a)Each limited cooperative association and each registered foreign cooperative shall designate and maintain a registered agent in Guam. The designation of a registered agent is an affirmation of fact by the association or foreign cooperative that the agent has consented to serve.

(b)A registered agent for a limited cooperative association or registered foreign cooperative must have a place of business in Guam.

(c)The only duties under this Act of a registered agent that has complied with this Act are:

(1)to forward to the limited cooperative association or registered foreign cooperative at the address most recently supplied to the agent by the association or foreign cooperative any process, notice, or demand pertaining to the association or foreign cooperative which is served on or received by the agent;

(2)if the registered agent resigns, to provide the notice required by § 17120(c) of this Act to the limited cooperative association or foreign cooperative at the address most recently supplied to the agent by the association or foreign cooperative; and

(3)to keep current the information with respect to the agent in the articles of organization or foreign registration statement.