Guam § 28722 - Demand.
Full text of Guam Guam Code Annotated § 28722 — Demand., with citation guidance and answers to common questions.
§ 28722. Demand.
No shareholder may commence a derivative proceeding until:
(a) a written demand has been made upon the corporation to take
suitable action; and
(b) 90 days have expired from the date the demand was made
unless the shareholder has earlier been notified that the demand has
been rejected by the corporation or unless irreparable injury to the
corporation would result by waiting for the expiration of the 90 day
period.
Frequently Asked Questions About Guam § 28722
What does Guam Code Annotated § 28722 cover?
Section 28722 ("Demand.") 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 § 28722?
A common citation format is "Guam Code Annotated § 28722" (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 § 28722 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.