Subdivision Located Without the Territorial

Confines of Guam. No person subject to the licensing provisions of 21 GCA Chapter 100 (Real Estate Law) shall sell or lease nor offer to sell or lease any interest in a subdivision located without the territorial confines of Guam unless the subdivision plan has been submitted to and approved by the Real Estate Commissioner. The Commissioner shall not approve any plan for a subdivision located without the territorial confines of Guam until he has issued a public report on the subject property. Such public report may be issued by the Commissioner based on facts disclosed from the state in which the property is located or based on an independent investigation on the part of the Commissioner. Approval of a subdivision located without the territorial confines of Guam by the Commissioner shall not relieve any person from any further requirement for registration or regulation of such transaction provided elsewhere under the laws of Guam.