18 Guam Code Ann. § 5102
Terms Used In 18 Guam Code Ann. § 5102
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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) A corporation may be dissolved at any time by the Superior Court upon the voluntary application of a majority of the members or of the stockholders holding at least two-thirds (2/3) of all shares of stock issued or subscribed.
COL070307
18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 5 EXTENSION AND DISSOLUTION OF CORPORATIONS
(b) The Director of Revenue and Taxation shall charge a filing fee of Twenty-five Dollars ($25.00) for each voluntary corporate dissolution filed with the Department.
SOURCE: CC § 400; amended by P.L. 9-98 (8/17/67). Amended by P.L. 29-
002:V:I:57 (May 18, 2007).
2007 COMMENT: The amendment by P.L. 29-002 added a new subsection (a) to the existing, unnumbered provision. To better organize the section, the existing provision was designated subsection (a) and the new subsection (from P.L. 29-002) was re- designated subsection (b) by the Compiler.