Chapter 11

COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.11COLLEGES AND INSTITUTIONS OF LEARNING 1CHAPTER 11 COLLEGES AND INSTITUTIONS OF LEARNI NG § 11101. Articles of Incorporation. § 11102. Right to Incorporate. § 11103. Bylaws. § 11104. Diplomas. § 11105. Trustees. § 11106. Real Estate; Conveyance of Property . § 11101. Articles of Incorporati on. Any num ber of persons not less than five who have established or who maydesire to establish a college, school, or other institution of le arning may incorporate themselves by filing with the Director of Revenue & T axation articles of incor poration s etting forth the following facts: (a) The name of the corporation; (b) The purpose for which it is organized; (c) The place where the college, school, or institu tion of learning is to be conducted; (d) The qualifications of trustees and the number of trustees, which shall not be less than five nor more than fifteen (15): Provid ed, however , that the number of trustees shall be some multiple of five; (e) The term for which the trustees shall serve and the names and residences of the trustees elected fo r the first term; (f) The amount of money and description of the property to be devoted to

ive; (e) The term for which the trustees shall serve and the names and residences of the trustees elected fo r the first term; (f) The amount of money and description of the property to be devoted to the mainte nance and support of the college, school, or other institution of learning. SOURCE: CC § 600. All SOURCE references in this Chapter are to the enactment as found in the Codes of Guam, 1970, ed. unless other wise stated. § 11102. Right to Incorporate. Societies or organi zations which have established colleges, schools, or other institu tions of learning may , unless forbidden by their constitu tions or by competent authority exercised over them, incor porate with the written consent of two -thirds (2/3) of the membership, or by an affirmative vote of COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.11COLLEGES AND INSTITUTIONS OF LEARNING 2two-thirds (2/3) of the membership had at a regular or a special meeting called for the purpose, by filing with the Director of Revenue & T axation articles of incorpora tion setting forth the facts prescribed for articles of incorpora tion in § 11101. SOURCE: CC § 601. § 11103. Bylaws.

purpose, by filing with the Director of Revenue & T axation articles of incorpora tion setting forth the facts prescribed for articles of incorpora tion in § 11101. SOURCE: CC § 601. § 11103. Bylaws. Societies or organizations so incorpo rated shall have the power to adopt bylaw s not inconsistent with law and may provide in such bylaws for the election of trustees and their terms of office. SOURCE: CC § 602. § 11104. Diplomas. Whenever so empowered in writing by the Director of Education and under such terms and conditio ns as said Director of Education may prescribe, colleges, duly incorpo rated in accordance with this Chapter , may grant diplomas. SOURCE: CC § 603. § 11105. T rustees. Unless otherwise provided in the bylaws, the board of trustees of incorpo rated school s, colleges, or other institutions of learning shall, as soon as organized, so classify themselves so that the term of office of one - fifth (1/5) of their number shall expire every year. Trustees elected thereafter to fill vacancies caused by expiration of termshall hold office for five years. A m ajorityof trustees shall consti tute a quorum for the transaction of business.

ry year. Trustees elected thereafter to fill vacancies caused by expiration of termshall hold office for five years. A m ajorityof trustees shall consti tute a quorum for the transaction of business. The office of the corporation shall be at college, school, or other institution of learning. The powers and authority of trustee s shall be defined in the bylaws. SOURCE: CC § 604. § 11106. Real Estate; Conveyance of Property. Any educational society or organization, by two -thirds (2/3) vote of its membership held at a regular or at a special meeting called for the purpose, or by writ ten consent of two -thirds (2/3) of its members without a meeting, and any existing educational corporation or body claiming to be such may , bya unanimous vote of its trustees present at a regular or special meeting called for the purpose or by the written consent of such trustees without COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.11COLLEGES AND INSTITUTIONS OF LEARNING 3meeting, convey all or any part of its property , rights, and franchises to a corporation organized for educational pur poses in confor mity with this Chapter .

COLLEGES AND INSTITUTIONS OF LEARNING 3meeting, convey all or any part of its property , rights, and franchises to a corporation organized for educational pur poses in confor mity with this Chapter . Any corporation organized for educational purposes in accordanc e with this Chapter shall have the right by and with the consent of a majority of its membership to purchase, hold, mortgage, or sell real estate for educa - tional purposes. SOURCE: CC § 605. ----------COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.11COLLEGES AND INSTITUTIONS OF LEARNING