Guam § 4105 - Issuing Money Prohibited.

§ 4105. Issuing Money Prohibited.

No corporation organized under this Part shall create or issue bills,

notes, or other evidence of debt for circulation as money, and no

corporation shall issue stock or bonds except in exchange for actual cash

paid to the corporation or for property actually received by it at a fair

valuation equal to the par value of the stock or bonds so issued. No

corporation shall make or declare any stock or bond dividend or any divi-

dend whatever except from the surplus profits arising from its business, or

divide or distribute its capital stock or property other than actual profits

among its members or stockholders until after the payment of its debts and

the termination of its existence by limitation or lawful dissolution.