18 Guam Code Ann. § 12115
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Terms Used In 18 Guam Code Ann. § 12115
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
The corporation may, upon the affirmative vote of two-thirds (2/3) of the votes to which the stockholders shall be entitled and two-thirds (2/3) of the votes to which the members shall be entitled, dissolve said corporation. Upon any dissolution of the corporation, none of the corporation’s assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full.
COL 03072011
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 12 INDUSTRIAL DEVELOPMENT CORPORATIONS
SOURCE: CC § 620.