§ 2101 Corporations Defined
§ 2102 Private Corporations
§ 2103 Private Corporations, How Formed
§ 2104 Articles of Incorporation, Filed
§ 2105 Articles of Incorporation
§ 2106 Corporation
§ 2107 Fee for Filing Articles
§ 2108 Directors Named Must Sign Articles
§ 2109 Statement of Treasurer
§ 2110 Corporate Name
§ 2111 Director of Revenue and Taxation to Issue Certificates
§ 2112 Articles as Prima Facie Evidence
§ 2113 Powers of an Investment Company or International Finance\r\nCompany
§ 2114 Investment Company or International Finance Company: Stock and Stockholders
§ 2116 Law not Applicable to FSC
§ 2117 Indemnification of Directors and officers of FSCs
§ 2118 Executive and Other Committees of FSCs
§ 2201 Bylaws: Adoption
§ 2202 Directors\’ Election; Notice of Election
§ 2203 Bylaws: Provisions
§ 2204 Bylaws: Amendment or Repeal
§ 2205 Corporation Management; Directors
§ 2206 Qualifications of Directors
§ 2207 Elections; Method of Voting
§ 2208 Organization
§ 2209 Directors: How Removed
§ 2210 Meetings Ordered
§ 2211 Incapable Owners Represented; Executors, Etc
§ 2212 New Election Generally
§ 2213 Failure to Hold Meetings; Special Meeting
§ 2214 False Entries, Etc
§ 2215 Validity of Proceedings
§ 2216 Meetings, Where Held
§ 2217 Directors\’ Meeting; Waiver of Notice

Terms Used In Guam Code > Title 18 > Chapter 2 - Formation of Corporations

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • 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.
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.