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Terms Used In 18 Guam Code Ann. § 3403

  • 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 authorized at a stockholders’ meeting, the corporation shall deliver a written dissenters’ notice to all stockholders who satisfied the requirements of § 3402 of this Article.

(b) The dissenters’ notice must be sent no later than ten (10) days after the corporate action was taken, and must:

(l) State where the payment demand must be sent and where and when certificates for certificated shares must be deposited;

(2) Inform holders of uncertificated shares to what extent transfer of the shares will be restricted after the payment demand is received;

(3) Supply a form for demanding payment that includes the date of the first announcement to news media or to stockholders of the terms of the proposed corporate action and requires that the person asserting dissenters’ rights certify whether or not he acquired beneficial ownership of the shares before that date;

(4) Set a date by which the corporation must receive the payment demand, which date may not be fewer than thirty (30) nor more than sixty (60) days after the date the Subsection (a) notice is delivered; and

(5) Be accompanied by a copy of §§ 330l through 3502 of this
Chapter.