Guam § 28608 - Share Dividends.
Full text of Guam Guam Code Annotated § 28608 — Share Dividends., with citation guidance and answers to common questions.
§ 28608. Share Dividends.
(a) Unless the articles of incorporation provide otherwise, shares may
be issued pro rata and without consideration to the corporation’s
shareholders or to the shareholders of one or more classes or series. An
issuance of shares under this subsection is a share dividend.
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(b) Shares of one class or series may not be issued as a share dividend
in respect of shares of another class or series unless:
(1) the articles of incorporation so authorize,
(2) a majority of the votes entitled to be cast by the class or series
to be issued approve the issue, or
(3) there are no outstanding shares of the class or series to be
issued.
(c) If the board of directors does not fix the record date for determining
shareholders entitled to a share dividend, it is the date the board of directors
authorizes the share dividend.
Frequently Asked Questions About Guam § 28608
What does Guam Code Annotated § 28608 cover?
Section 28608 ("Share Dividends.") 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 § 28608?
A common citation format is "Guam Code Annotated § 28608" (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 § 28608 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.