Terms Used In 18 Guam Code Ann. § 1101

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
This Part of Title 18 of the Guam Code Annotated and all amend- ments hereof and any section or supplement added hereto shall be known and may be cited as The General Corporation Law, and is hereinafter referred to as this Part.

SOURCE: CC (Civil Code) § 277. References to Title and Civil Code have been replaced with Part and this Title, respectively, to conform to the position of this law within the Guam Code Annotated.

§ 1101.1. [Untitled Section – Relative to the Effect of P.L. 29-144
Enacting the Guam Business Corporation Act].

No corporation organized in Guam after the effective date of the Guam Business Corporation Act, 18 Guam Code Ann., Division 1, Part 5, shall be organized under or governed by the provisions of this Part, except as provided in the Guam Business Corporation Act.A corporation organized in Guam prior to the effective date of the Guam Business Corporation Act shall not be subject to the Guam Business Corporation Act, and shall continue to be governed by this part, except as provided in the Guam Business Corporation Act.

SOURCE: Added by P.L. 29-144:3 (Jan. 30, 2009) as § 1101a, effective 90 days from enactment pursuant to P.L. 29-144:4. Renumbered by Compiler to harmoniously fit this chapter.

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