Guam § 281411 - Procedure for Judicial Dissolution.
Full text of Guam Guam Code Annotated § 281411 — Procedure for Judicial Dissolution., with citation guidance and answers to common questions.
§ 281411. Procedure for Judicial Dissolution.
(a) It is not necessary to make shareholders parties to a proceeding to
dissolve a corporation unless relief is sought against them individually.
(b) A court in a proceeding brought to dissolve a corporation may issue
injunctions, appoint a receiver or custodian pendente lite with all powers and
duties the court directs, take other action required to preserve the corporate
assets wherever located, and carry on the business of the corporation until a
full hearing can be held.
(c) Within 10 days of the commencement of a proceeding under §
281410 (b) to dissolve a corporation that has no shares listed on a national
securities exchange or regularly traded in a market maintained by one or
more members of a national securities exchange, the corporation must send
to all shareholders, other than the petitioner, a notice stating that the
shareholders are entitled to avoid the dissolution of the corporation by
electing to purchase the petitioner’s shares under § 281414 and accompanied
by a copy of § 281414.
Frequently Asked Questions About Guam § 281411
What does Guam Code Annotated § 281411 cover?
Section 281411 ("Procedure for Judicial Dissolution.") 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 § 281411?
A common citation format is "Guam Code Annotated § 281411" (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 § 281411 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.