{"data":{"id":"us-gu/18-gca-281405","jurisdiction":"us-gu","citation":"18 GCA § 281405","heading":"Effect of Dissolution.","body":"(a) A dissolved corporation continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:\n(1) collecting its assets;\n(2) disposing of its properties that will not be distributed in kind to its shareholders;\n(3) discharging or making provision for discharging its liabilities;\n(4) distributing its remaining property among its shareholders according to their interests; and\n(5) doing every other act necessary to wind up and liquidate its business and affairs.\n(b) Dissolution of a corporation does not:\n(1) transfer title to the corporation’s property;\n(2) prevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation’s share transfer records;\n(3) subject its directors or officers to standards of conduct different from those prescribed in Article 8;\n(4) change quorum or voting requirements for its board of directors or shareholders; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws;\n(5) prevent commencement of a proceeding by or against the corporation in its corporate name;\n(6) abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or\n(7) terminate the authority of the registered agent of the corporation.","path":["Title 18: Business Structure and Function","Division 1 - Business Structure","Part 5 - Guam Business Corporation Act","Chapter 28: Guam Business Corporation Act","ARTICLE 14: DISSOLUTION"],"source_url":"https://col.guamcourts.gov/sites/default/files/18gc028.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:55:38Z","sha256":"9a08ccc30463ac96effbdc753979e3e3dd4ab4e8676ddb71c20535abf7cd9824","source_id":"us-gu","stale":false,"prev":"us-gu/18-gca-281404","next":"us-gu/18-gca-281406"},"notice":"GroundRules: Original legal text. Not legal advice."}