Guam § 2207 - Elections; Method of Voting.

§ 2207. Elections; Method of Voting.

At elections of directors there must be present, either in person or by

representative authorized to act by written proxy, the owners of the majority

of the paid up capital stock entitled to vote, or, if there be no capital stock,

then a majority of the members entitled to vote. The elections must be by

ballot and every stockholder entitled to vote shall have the right to vote in

person or by proxy the number of shares of stock standing at the time fixed

in the bylaws in his own name on the stock books of the corporation, and

said stockholder may vote such number of shares for as many persons as

there are directors or he may cumulate said shares and give one candidate as

many votes as the number of directors to be elected, multiplied by the

number of his shares, shall equal, or he may distribute them in the same

principle among as many candidates as he shall see fit: Provided, that the

whole number of votes cast by him shall not exceed the number of shares

owned by him as shown by the books of the corporation multiplied by the

whole number of directors to be elected. Members of corporations which

have no capital stock may case as many votes for one director as there are

directors to be elected. Any meeting of the stockholders or members called

for an election may adjourn from day to day or from time to time if for any

reason no election is had or if there are not present or represented by proxy

at the meeting the owners of the majority of the paid up capital stock

entitled to vote or if there by no capital stock, a majority of the members

entitled to vote.