Guam § 281409 - Director Duties.
Full text of Guam Guam Code Annotated § 281409 — Director Duties., with citation guidance and answers to common questions.
§ 281409. Director Duties.
(a) Directors shall cause the dissolved corporation to discharge or make
reasonable provision for the payment of claims and make distributions of
assets to shareholders after payment or provision for claims.
(b) Directors of a dissolved corporation which has disposed of claims
under sections 281406, 281407, or 281408 shall not be liable for breach of §
281409 (a) with respect to claims against the dissolved corporation that are
barred or satisfied under sections 281406, 281407 or 281408.
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SUBARTICLE B
JUDICIAL DISSOLUTION
Frequently Asked Questions About Guam § 281409
What does Guam Code Annotated § 281409 cover?
Section 281409 ("Director Duties.") 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 § 281409?
A common citation format is "Guam Code Annotated § 281409" (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 § 281409 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.