18 Guam Code Ann. § 3402
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Terms Used In 18 Guam Code Ann. § 3402
- 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) If proposed corporate action creating dissenters’ rights under § 3302 of this Chapter is submitted to a vote at a stockholders’ meeting, a stockholder who wishes to assert dissenters’ rights:
(l) Must deliver to the corporation before the vote is taken written notice of his intent to demand payment for his shares if the proposed action is effectuated; and
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18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 3 CORPORATE STOCK
(2) Must not vote his shares in favor of the proposed action.
(b) A stockholder who does not satisfy the requirements of Subsection (a) of this Section is not entitled to payment for his shares under Articles 3 and 4 of this Chapter.