18 Guam Code Ann. § 281413
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Terms Used In 18 Guam Code Ann. § 281413
- 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) If after a hearing the court determines that one or more grounds for judicial dissolution described in § 281410 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, and the clerk of the court shall deliver a certified copy of the decree to the Director of Revenue & Taxation, who shall file it.
(b) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation’s business and affairs in accordance with § 281405 and the notification of claimants in accordance with sections 281406 and 281407.