Terms Used In 18 Guam Code Ann. § 2113
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(a) Authorize the issuance of one or more classes of stock or one or more series of stock within any class thereof:
(1) any or all of which classes may be of stock with par value or stock without par value (in which case such amount as shall be capital of the issuer shall be designated not later than sixty (60) days following issue) and which classes or series may have such voting powers, full or limited, or no voting powers and such designations, preferences and relative, participating, optional or other special rights and qualifications, limitations, restrictions or prohibitions including, without limitation, restrictions or prohibitions on transfer, based upon the nationality or country of residence of a transferee thereof or other factors, as shall be stated and expressed in the articles of incorporation or of any amendment thereto, or in the resolution or resolutions providing for the issuance of such stock adopted by the Board of Directors pursuant to authority expressly vested in it by the provisions of its articles of incorporation;
(2) which are redeemable or convertible into other securities, in whole or in part, at the option of the issuer;
(3) which are redeemable at the option of the holder at a price approximately equal to the shares’ proportionate interest in the net assets of the issuer, or convertible at the option of the holder into other securities, and a stockholder may compel redemption or conversion of such shares in accordance with their terms;
(4) which if redeemed or converted may be retired or held as treasury shares as determined from time to time by the Board of Directors; and
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 2 FORMATION OF CORPORATIONS
(5) which provide that no stockholder shall be entitled to cumulate votes in the election of directors as otherwise provided by § 2207 of this Title;
(b) Issue fractional shares; and
(c) Grant preemptive rights, if any, to the holders of any of its securities to subscribe to any or all additional issues of securities of the issuer or to any or all classes or series thereof.
SOURCE: CC § 298 added by P.L. 16-115:4.