Grounds for Revocation of Certificate of Authority

The Director of the Department of Revenue and Taxation may commence a proceeding under § 7116 of this Title to revoke the certificate of authority of a foreign corporation authorized to transact business on Guam if:

(a)the foreign corporation does not deliver its annual report to the Director of the Department of Revenue and Taxation within sixty

(60)days after it is due;

(b)the foreign corporation does not pay within sixty

(60)days after they are due any fees or penalties imposed under this Chapter or other law; COL070307 CH. 7 FOREIGN CORPORATIONS

(c)the foreign corporation is without a registered agent or registered office on Guam for sixty

(60)days or more;

(d)the Director of the Department of Revenue and Taxation has credible information that the foreign corporation has failed to notify the Director of the Department of Revenue and Taxation within sixty

(60)days of the occurrence that its registered agent or registered office has changed, that its registered agent has resigned or that its registered office has been discontinued;

(e)the Director of the Department of Revenue and Taxation has credible information that an incorporator, director, officer or agent of the foreign corporation signed a document that that person knew was false in any material respect, with intent that the document be delivered to the Director of the Department of Revenue and Taxation for filing; or

(f)the Director of the Department of Revenue and Taxation receives a duly authenticated certificate from the official having custody of corporate records in the state or country under whose law the foreign corporation is incorporated, stating that it has been dissolved or disappeared as a result of a merger.