Guam § 28603 - Issued and Outstanding Shares.
Full text of Guam Guam Code Annotated § 28603 — Issued and Outstanding Shares., with citation guidance and answers to common questions.
§ 28603. Issued and Outstanding Shares.
(a) A corporation may issue the number of shares of each class or series
authorized by the articles of incorporation. Shares that are issued are
outstanding shares until they are reacquired, redeemed, converted, or
cancelled.
(b) The reacquisition, redemption, or conversion of outstanding shares
is subject to the limitations of subsection (c) of this section and to § 28616.
(c) At all times that shares of the corporation are outstanding, one or
more shares that together have unlimited voting rights and one or more
shares that together are entitled to receive the net assets of the corporation
upon dissolution must be outstanding.
Frequently Asked Questions About Guam § 28603
What does Guam Code Annotated § 28603 cover?
Section 28603 ("Issued and Outstanding Shares.") 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 § 28603?
A common citation format is "Guam Code Annotated § 28603" (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 § 28603 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.