Guam § 15120 - Dissolution.
Full text of Guam Guam Code Annotated § 15120 — Dissolution., with citation guidance and answers to common questions.
§ 15120. Dissolution.
(a) A limited liability company organized under this
Chapter shall be dissolved upon the occurrence of any of the
following events:
(1) When the period fixed for the duration of the
limited liability company expires.
(2) By the unanimous written agreement of all mem-
bers.
(3) Upon the death, retirement, resignation, expulsion,
bankruptcy, or dissolution of a member or upon the occur-
rence of any other event which terminates the continued
membership of a member in the limited liability company,
unless the business of the limited liability company is
continued by the consent of all the remaining members or
under a right to continue stated in the articles of
organization of the liability company.
(b) As soon as possible following the occurrence of any of
the events specified in Subsection (a) which effects the dissolu-
tion of the limited liability company, the limited liability com-
pany shall execute a statement of intent to dissolve in the form
prescribed by the Department of Revenue and Taxation.
Frequently Asked Questions About Guam § 15120
What does Guam Code Annotated § 15120 cover?
Section 15120 ("Dissolution.") 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 § 15120?
A common citation format is "Guam Code Annotated § 15120" (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 § 15120 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.