18 Guam Code Ann. § 1103
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Terms Used In 18 Guam Code Ann. § 1103
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
(a) The provisions of this Part are applicable to every private corpo- ration, profit or nonprofit, stock or nonstock, now existing or hereafter formed, and the outstanding or future securities thereof, unless such corporation be expressly excepted from the operation thereof, or there be a special provision, in relation to any class thereof inconsistent with some provision of this Part, in which case the special provision prevails.
(b) Existing Corporations. The existence of corporations heretofore formed or existing shall not be affected by the enactment of this Part, nor by any change in the requirements for the formation of corporations, nor by amendment or repeal of the laws under which they were formed or created.
SOURCE: CC § 279. Enacted 1953.
2015 NOTE: Subsection designations were added in accordance to the authority granted by 1 Guam Code Ann. § 1606.