Guam § 13120 - Payment for Stock or Property by Transfer of Preferred Stock.
Full text of Guam Guam Code Annotated § 13120 — Payment for Stock or Property by Transfer of Preferred Stock., with citation guidance and answers to common questions.
§ 13120. Payment for Stock or Property by Transfer of Preferred Stock.
Whenever an association, organized hereunder with preferred shares of
stock, shall purchase the stock or any property, or interest in any property of
any person, it may discharge the obligations so incurred, wholly or in part,
by exchanging for the acquired interest, shares of its preferred stock to an
amount which at par value would equal the fair market value of the stock or
interest so purchased, as determined by the board of directors. In that case,
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the transfer to the association of the stock or interest purchased shall be
equivalent to payment in cash for the shares of stock issued.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 13120
What does Guam Code Annotated § 13120 cover?
Section 13120 ("Payment for Stock or Property by Transfer of Preferred Stock.") 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 § 13120?
A common citation format is "Guam Code Annotated § 13120" (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 § 13120 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.