18 Guam Code Ann. § 13120
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Terms Used In 18 Guam Code Ann. § 13120
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Whenever an association, organized hereunder with preferred shares of stock, shall purchase the stock or any property, or interest in any property of any person, it may discharge the obligations so incurred, wholly or in part, by exchanging for the acquired interest, shares of its preferred stock to an amount which at par value would equal the fair market value of the stock or interest so purchased, as determined by the board of directors. In that case,
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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 13 NONPROFIT COOPERATIVE ASSOCIATIONS
the transfer to the association of the stock or interest purchased shall be equivalent to payment in cash for the shares of stock issued.
SOURCE: CC § 650.20.