Guam § 171401 - Disposition of Assets not Requiring Member Approval.
Full text of Guam Guam Code Annotated § 171401 — Disposition of Assets not Requiring Member Approval., with citation guidance and answers to common questions.
§ 171401. Disposition of Assets not Requiring Member Approval.
(a) Unless the articles of organization otherwise provide and if the disposition does not leave the
association without significant continuing business activity, member approval under § 171402 is not
required for a limited cooperative association to:
(1) sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the
association in the usual and regular course of business; or
(2) mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way all or
any part of the assets of the association whether or not in the usual and regular course of business.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 171401
What does Guam Code Annotated § 171401 cover?
Section 171401 ("Disposition of Assets not Requiring Member Approval.") 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 § 171401?
A common citation format is "Guam Code Annotated § 171401" (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 § 171401 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.