Limited cooperative association bill fails on floor after lengthy debate; 7‑8 roll call

The 37th Guam Legislature debated Bill 365-37COR on Dec. 13, a substitute measure that would create a statutory framework for Limited Cooperative Associations (LCAs) in Guam law. The sponsor, identified in the transcript as Senator Paris, moved to accept a substitute and then to place the bill in the third‑reading file. After floor debate and a roll‑call vote, the measure failed 7 ayes to 8 nays.

The substitute bill would add a new chapter to Title 18 creating a for‑profit LCA model based on the Uniform Limited Cooperative Association model code. The sponsor said the chapter provides a statutory regime for filing, naming, membership rules, governance, distribution of profits and losses, board and officer duties, dissolution, registered agents and other corporate‑style requirements; the substitute explicitly states that nonprofit cooperatives currently governed under chapter 13, title 18, Guam Code Annotated are not…