18 Guam Code Ann. § 3106
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Terms Used In 18 Guam Code Ann. § 3106
- 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.
- Fraud: Intentional deception resulting in injury to another.
In the absence of a contrary provision in the articles or bylaws, a corporation shall not be obligated (a) to issue either a fraction of a share or a scrip or other certificate evidencing such fraction if the corporation shall in lieu thereof pay to the person who would otherwise be entitled to such fraction the fair value thereof as determined by the Board of Directors, or (b) to permit or recognize transfers of less than a whole share if the corporation shall agree to purchase such fraction at the fair value thereof as determined by the Board of Directors. Such determination of fair value shall be conclusive in the absence of fraud.
SOURCE: CC § 328 added by P.L. 14-47:3 (7/7/77).
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COL021307
18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 3 CORPORATE STOCK
ARTICLE 2
ASSESSMENT OF STOCK