18 Guam Code Ann. § 3104
Terms Used In 18 Guam Code Ann. § 3104
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- 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.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
When the shares of stock in a corporation are owned by parties residing out of Guam, the president, secretary, or directors of the corpo- ration, before entering any transfer of the shares on its books, or issuing a certificate therefor to the transferee, may require from the attorney or agent of the nonresident owner, or from the person claiming under the transfer, an affidavit or other evidence that the nonresident owner was alive at the date of the transfer, and if such affidavit or other satisfactory evidence be not furnished, may require from the attorney, agent, or claimant, a bond of indemnity, with two (2) sureties, satisfactory to the officer of the corporation; or, if not so satisfactory, then one approved by a judge of the Superior Court, conditioned to protect the corporation against any liability to the legal representative of the owner of the shares in case of his or her death before the transfer; and if such affidavit or other evidence or bond be not furnished when required as herein provided, neither the corporation nor any officer thereof shall be liable for refusing to enter the transfer on the books of the corporation.
COL021307
18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 3 CORPORATE STOCK
SOURCE: CC § 326.