Terms Used In 18 Guam Code Ann. § 2205

  • 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.
Unless otherwise provided in this Part, the corporate powers of all corporations formed under this Part shall be exercised, all business of such corporations conducted, and all property of such corporations controlled and held by a board of not less than three (3) nor more than eleven (11) directors to be elected from among the holders of stock, or, where there is no stock, from the members of the corporation.

SOURCE: CC § 305.