18 Guam Code Ann. § 3407
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Terms Used In 18 Guam Code Ann. § 3407
- 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 the corporation does not take the proposed action within sixty
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18 Guam Code Ann. BUSINESS STRUCTURES & FUNCTION
CH. 3 CORPORATE STOCK
(60) days after the date set for demanding payment and depositing share certificates, the corporation shall return the deposited certificates and release the transfer restrictions imposed on uncertificated shares.
(b) If, after returning deposited certificates and releasing transfer restrictions, the corporation takes the proposed action, it must send a new dissenters’ notice under § 3403 of this Article and repeat the payment demand procedure.