18 Guam Code Ann. § 4108
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Terms Used In 18 Guam Code Ann. § 4108
- 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.
Bonded indebtedness. No corporation shall increase or diminish its capital stock, or incur, create, or increase any bonded indebtedness unless, at a stockholders’ meeting regularly called for the purpose, two-thirds (2/3) of the entire corporate capital stock subscribed shall favor the increase or diminution of the capital stock, or a majority of the subscribed capital stock shall favor the incurring, creating, or increasing of any bonded indebted- ness. Notice of such meeting shall be served as provided in ‘3105 of this Title.
SOURCE: CC § 359.