Guam § 28302 - General Powers.

§ 28302. General Powers.

Unless its articles of incorporation provide otherwise, every corporation

has perpetual duration and succession in its corporate name and has the same

powers as an individual to do all things necessary or convenient to carry out

its business and affairs, including without limitation power:

(a) to sue and be sued, complain and defend in its corporate name;

(b) to have a corporate seal, which may be altered at will, and to

use it, or a facsimile of it, by impressing or affixing it or in any other

manner reproducing it;

(c) to make and amend bylaws, not inconsistent with its articles of

incorporation or with the laws of Guam, for managing the business and

regulating the affairs of the corporation;

(d) to purchase, receive, lease, or otherwise acquire, and own,

hold, improve, use, and otherwise deal with, real or personal property,

or any legal or equitable interest in property, wherever located;

(e) to sell, convey, mortgage, pledge, lease, exchange, and

otherwise dispose of all or any part of its property;

(f) to purchase, receive, subscribe for, or otherwise acquire; own,

hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of;

and deal in and with shares or other interests in, or obligations of, any

other entity;

(g) to make contracts and guarantees, incur liabilities, borrow

money, issue its notes, bonds, and other obligations (which may be

convertible into or include the option to purchase other securities of the

corporation), and secure any of its obligations by mortgage or pledge of

any of its property, franchises, or income;

(h) to lend money, invest and reinvest its funds, and receive and

hold real and personal property as security for repayment;

(i) to be a promoter, partner, member, associate, or manager of any

partnership, joint venture, trust, or other entity;

(j) to conduct its business, locate offices, and exercise the powers

granted by this Act within or without Guam;

(k) to elect directors and appoint officers, employees, and agents

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of the corporation, define their duties, fix their compensation, and lend

them money and credit;

(l) to pay pensions and establish pension plans, pension trusts,

profit sharing plans, share bonus plans, share option plans, and benefit

or incentive plans for any or all of its current or former directors,

officers, employees, and agents;

(m) to make donations for the public welfare or for charitable,

scientific, or educational purposes;

(n) to transact any lawful business that will aid governmental

policy;

(o) to make payments or donations, or do any other act, not

inconsistent with law, that furthers the business and affairs of the

corporation.