Guam § 2202 - Directors' Election; Notice of Election.

§ 2202. Directors' Election; Notice of Election.

At the meeting for the adoption of the original bylaws, or at such

subsequent meeting as may be then determined, directors shall be elected to

hold their offices for one (1) year and until their successors are elected and

qualified. Thereafter the directors of the corporation shall be elected

annually by the stockholders if it be a stock corporation or by the members

if it be a nonstock corporation, and if no provision is made in the bylaws for

the time of election the same shall be held on the first Tuesday after the first

Monday in January; unless otherwise provided in the bylaws, ten (10) days'

notice of the election of directors must be given to stockholders. All such

notices to stockholders in Guam shall be written or printed and delivered

personally to such stockholders. Service of said notices may be proved

prima facie by affidavit of the person serving the notice. Written or printed

notice must be addressed to each stockholder, absent from Guam, at his

place of residence as shown by the books of the corporation and registered

and deposited so addressed in the post office with postage prepaid. Service

of said notice may be proved prima facie by the post office receipt of the

registered letter. A notice of the election of directors shall be posted for a

period of three (3) weeks, immediately preceding the election in at least

three (3) public places, in the place where the principal office of the

corporation is located.

COL070307

18 GCA BUSINESS S TRUCTURE & FUNCTION