Guam § 2209 - Directors: How Removed.

§ 2209. Directors: How Removed.

Directors of a corporation may be removed from office by a vote of

two-thirds (2/3) of the members entitled to vote, or, if the corporation be a

stock corporation, by the vote of the stockholders holding or representing

two-thirds (2/3) of the paid up capital stock entitled to vote: Provided,

however, that such removal shall take place either at a regular meeting of

the corporation or at a special meeting called for the purpose, and in either

case, after previous notice to stockholders or members of the intention to

propose such removal at the meeting. A special meeting of the stockholders

or members of a corporation for the purpose of removal of directors, or any

of them, must be called by the secretary or clerk on order of the president or

on the written demand of a majority of the members entitled to vote, or, if it

be a stock corporation, on the written demand of the stockholders represent-

ing or holding at least one-half (2) of the shares entitled to be voted.

Should the secretary or clerk fail or refuse to call the special meeting

demanded or fail or refuse to give notice, or if there is no secretary or clerk,

the call for the meeting may be addressed directly to the members or

stockholders by any member or stockholder of the corporation signing the

demand. Notice of the time and place of any such meeting, as well as of the

intention to propose such removal, must be given by publication or by

written notice as prescribed by § 2202 hereof. In case of removal on the

vote of stockholders or the members, as the case may be, the vacancy so

created may be filled by election at the same meeting without further notice,

or at any general meeting or at any special meeting called for the purpose,

after giving notice as prescribed by said § 2202 hereof.