Guam § 116105 - Arrears in Payments.
Full text of Guam Guam Code Annotated § 116105 — Arrears in Payments., with citation guidance and answers to common questions.
§ 116105. Arrears in Payments.
Whenever any shareholder shall be six months in arrears in the
payment of any installment of his dues upon free shares, the secretary
may give him notice thereof in writing and a statement of his arrearage;
and if he shall not pay all arrearage within two months thereafter, the
association may, at its option, declare his shares forfeited, and at the time
of such forfeiture, the withdrawal value thereof shall be determined and
stated, and the defaulting shareholder shall be entitled to withdraw the
same without interest upon the same notice and subject to the same
conditions as a withdrawing shareholder.
Frequently Asked Questions About Guam § 116105
What does Guam Code Annotated § 116105 cover?
Section 116105 ("Arrears in Payments.") 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 § 116105?
A common citation format is "Guam Code Annotated § 116105" (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 § 116105 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.