Guam § 281308 - Payment.
Full text of Guam Guam Code Annotated § 281308 — Payment., with citation guidance and answers to common questions.
§ 281308. Payment.
(a) Except as provided in § 281309, within 30 days after the form
required by § 281306 (b) is due, the corporation shall pay in cash to those
shareholders who complied with § 281307 (a) the amount the corporation
estimates to be the fair value of their shares, plus interest.
(b) The payment to each shareholder pursuant to subsection (a) must be
accompanied by:
(1) financial statements of the corporation that issued the shares to
be appraised, consisting of a balance sheet as of the end of a fiscal year
ending not more than 16 months before the date of payment, an income
COL372014
18 GCA BUSINESS STRUCTURE & FUNCTION
statement for that year, a statement of changes in shareholders’ equity
for that year, and the latest available interim financial statements, if
any;
(2) a statement of the corporations estimate of the fair value of the
shares, which estimate must equal or exceed the corporation’s estimate
given pursuant to § 281306 (b)(2)(C);
(3) a statement that shareholders described in subsection (a) have
the right to demand further payment under § 281310 and that if any
such shareholder does not do so within the time period specified
therein, such shareholder shall be deemed to have accepted such
payment in full satisfaction of the corporation’s obligations under this
Article.
Frequently Asked Questions About Guam § 281308
What does Guam Code Annotated § 281308 cover?
Section 281308 ("Payment.") 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 § 281308?
A common citation format is "Guam Code Annotated § 281308" (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 § 281308 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.