Guam § 281005 - Amendment by Board of Directors.

§ 281005. Amendment by Board of Directors.

Unless the articles of incorporation provide otherwise, a corporation’s

board of directors may adopt the following amendments to the corporations

articles of incorporation without shareholder approval:

(a) to delete the names and addresses of the initial directors;

(b) if the corporation has only one class of shares outstanding:

(1) to change each issued and unissued authorized share of

the class into a greater number of whole shares of that class; or

(2) to increase the number of authorized shares of the class to

the extent necessary to permit the issuance of shares as a share

dividend;

(c) to change the corporate name by substituting the word

corporation, incorporated, company, limited, or the abbreviation corp.,

inc., co., or ltd., for a similar word or abbreviation in the name, or by

adding, deleting, or changing a geographical attribution for the name;

(d) to reflect a reduction in authorized shares, as a result of the

operation of § 28615 (b), when the corporation has acquired its own

shares and the articles of incorporation prohibit the reissue of the

acquired shares;

(e) to delete a class of shares from the articles of incorporation, as

a result of the operation of § 28615 (b), when there are no remaining

shares of the class because the corporation has acquired all shares of the

class and the articles of incorporation prohibit the reissue of the

acquired shares; or

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(f) to make any change expressly permitted by § 28602 (d) to be

made without shareholder approval.