Guam § 28607 - Liability of Shareholders.
Full text of Guam Guam Code Annotated § 28607 — Liability of Shareholders., with citation guidance and answers to common questions.
§ 28607. Liability of Shareholders.
(a) A purchaser from a corporation of its own shares is not liable to the
corporation or its creditors with respect to the shares except to pay the
consideration for which the shares were authorized to be issued or specified
in the subscription agreement.
(b) Unless otherwise provided in the articles of incorporation, a
shareholder of a corporation is not personally liable for the acts or debts of
the corporation except that he may become personally liable by reason of his
own acts or conduct.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 28607
What does Guam Code Annotated § 28607 cover?
Section 28607 ("Liability of Shareholders.") 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 § 28607?
A common citation format is "Guam Code Annotated § 28607" (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 § 28607 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.