18 Guam Code Ann. § 11105
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 18 Guam Code Ann. § 11105
- 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.
- Quorum: The number of legislators that must be present to do business.
Unless otherwise provided in the bylaws, the board of trustees of incorporated schools, 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 term shall hold office for five years. A majority of trustees shall constitute 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 trustees shall be defined in the bylaws.
SOURCE: CC § 604.