18 Guam Code Ann. § 281401
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Terms Used In 18 Guam Code Ann. § 281401
- 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.
A majority of the incorporators or initial directors of a corporation that has not issued shares or has not commenced business may dissolve the corporation by delivering to the Director of Revenue & Taxation for filing articles of dissolution that set forth:
(a) the name of the corporation;
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(b) the date of its incorporation; (c) either:
(1) that none of the corporation’s shares has been issued or
(2) that the corporation has not commenced business; (d) that no debt of the corporation remains unpaid;
(e) that the net assets of the corporation remaining after winding up have been distributed to the shareholders, if shares were issued; and
(f) that a majority of the incorporators or initial directors authorized the dissolution.