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Terms Used In 18 Guam Code Ann. § 15124

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
When all debts, liabilities, and obligations of the limited liability company have been paid or discharged, or adequate provision has been made therefore, and all of the remaining property and assets of the limited liability company have been distributed to the members, articles of dissolution shall be executed and verified by the person signing the statement, which statement shall set forth:

(a) The name of the limited liability company.

(b) The fact that the Department of Revenue and Taxation has therefore filed a statement of intent to dissolve the company and the date on which such statement was filed.

(c) The fact that all debts, obligations, and liabilities have been paid or discharged, or that adequate provision has been made therefore.

(d) The fact that all the remaining property and assets have been distributed among its members in accordance with their respective rights and interests.

(e) The fact that there are no suits pending against the company in any court or that adequate provision has been made for the satisfaction of any judgment, order, or decree which may be entered against it in any pending suit.