Guam § 17303 - Bylaws.
Full text of Guam Guam Code Annotated § 17303 — Bylaws., with citation guidance and answers to common questions.
§ 17303. Bylaws.
(a) Bylaws must be in a record and, if not stated in the articles of organization, must include:
(1) a statement of the capital structure of the limited cooperative association, including:
(A) the classes or other types of members’ interests and relative rights, preferences, and
restrictions granted to or imposed upon each class or other type of member’s interest; and
(B) the rights to share in profits or distributions of the association;
(2) a statement of the method for admission of members;
(3) a statement designating voting and other governance rights, including which members have
voting power and any restriction on voting power;
(4) a statement that a member’s interest is transferable, if it is to be transferable, and a statement
of the conditions upon which it may be transferred;
(5) a statement concerning the manner in which profits and losses are allocated and distributions
are made among patron members and, if investor members are authorized, the manner in which profits
and losses are allocated and how distributions are made among investor members and between patron
members and investor members;
(6) a statement concerning:
(A) whether persons that are not members but conduct business with the association may be
permitted to share in allocations of profits and losses and receive distributions; and
(B) the manner in which profits and losses are allocated and distributions are made with
respect to those persons; and
(7) a statement of the number and terms of directors or the method by which the number and
terms are determined.
(b) Subject to § 17109(c) and the articles of organization, bylaws may contain any other provision for
managing and regulating the affairs of the association.
(c) In addition to amendments permitted under Article 4, the initial board of directors may amend the
bylaws by a majority vote of the directors at any time before the admission of members.
ARTICLE 4
AMENDMENT OF ARTICLES OF ORGANIZATION OR BYLAWS OF LIMITED COOPERATIVE
ASSOCIATION
Frequently Asked Questions About Guam § 17303
What does Guam Code Annotated § 17303 cover?
Section 17303 ("Bylaws.") 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 § 17303?
A common citation format is "Guam Code Annotated § 17303" (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 § 17303 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.