Guam § 3406 - Payment.
Full text of Guam Guam Code Annotated § 3406 — Payment., with citation guidance and answers to common questions.
§ 3406. Payment.
(a) Except as provided in § 3408 of this Article, as soon as the
proposed corporate action is taken, or upon receipt of a payment demand,
the corporation shall pay each dissenter who complied with §3404 the
amount the corporation estimates to be the fair value of his shares, plus
interest, in cash.
(b) The payment must be accompanied by:
(1) The corporation's balance sheet as of the end of a fiscal year
ending not more than sixteen (16) months before the date of payment,
an income statement for that year, a statement of changes in
stockholders’ equity for that year and the latest available interim
financial statements, if any;
(2) A statement of the corporation's estimate of the fair value of
the shares;
(3) An explanation of how the interest was calculated;
(4) A statement of the dissenter's right to demand payment under
Frequently Asked Questions About Guam § 3406
What does Guam Code Annotated § 3406 cover?
Section 3406 ("Payment.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 3406?
A common citation format is "Guam Code Annotated § 3406" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 3406 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.