18 Guam Code Ann. § 3502
Terms Used In 18 Guam Code Ann. § 3502
- Appraisal: A determination of property value.
- 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.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
COL021307
18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 3 CORPORATE STOCK
compensation and expenses of appraisers appointed by the court. The Court shall assess the costs against the corporation, except that the Court may assess costs against all or some of the dissenters, in amounts the Court finds equitable, to the extent the Court finds the dissenters acted arbitrarily, vexatiously, or in bad faith in demanding payment under § 3409 of this Chapter.
(b) The Court may also assess the fees and expenses of counsel and experts for the respective parties, in amounts the Court finds equitable:
(1) Against the corporation and in favor of any or all dissenters if the Court finds the corporation did not substantially comply with the requirements of § 3401 through § 3409 of this Chapter; and
(2) Against either the corporation or a dissenter in favor of any other party, if the Court finds that the party against whom the fees and expenses are assessed acted arbitrarily, vexatiously, or in bad faith with respect to the rights provided by this Chapter.
(c) If the Court finds that the services of counsel for any dissenter were of substantial benefit to other dissenters similarly situated, and that the fees for those services should not be assessed against the corporation, the Court may award to said counsel reasonable fees to be paid out of the amount awarded the dissenters who were benefited.
———
COL021307
18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 3 CORPORATE STOCK
COL021307