Termination of Registration

(a)The Director may terminate the registration of a registered foreign cooperative in the manner provided in Subsections

(b)and

(c)if the cooperative does not:

(1)pay, no later than thirty

(30)calendar days after the due date, any fee, tax, interest, or penalty required to be paid to the Director under this Act or law other than this Act;

(2)deliver to the Director for filing, no later than thirty

(30)calendar days after the due date, an annual report required under § 17210;

(3)have a registered agent as required by § 17118; or

(4)deliver to the Director for filing a statement of change under § 17119 no later than thirty

(30)calendar days after a change has occurred in the name or address of the registered agent.

(b)The Director may terminate the registration of a registered foreign cooperative by:

(1)filing a notice of termination or noting the termination in the records of the Department of Revenue and Taxation; and CH. 17 THE GUAM UNIFORM LIMITED COOPERATIVE ASSOCIATION ACT

(2)delivering a copy of the notice or the information in the notation to the cooperative’s registered agent or, if the cooperative does not have a registered agent, to the foreign cooperative’s principal office.

(c)The notice must state or the information in the notation must include:

(1)the effective date of the termination, which must be at least sixty

(60)calendar days after the date the Director delivers the copy; and

(2)the grounds for termination under Subsection (a).

(d)The authority of a registered foreign cooperative to do business in Guam ceases on the effective date of the notice of termination or notation under Subsection (b), unless before that date the foreign cooperative cures each ground for termination stated in the notice or notation. If the foreign cooperative cures each ground, the Director shall file a record so stating.