Guam Approval of amendment to articles of incorporation to permit certain uses of distributions from capital surplus

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US-CC-4-188C
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This sample form, a detailed Approval of Amendment to Articles of Incorporation to Permit Certain Uses of Distributions from Capital Surplus document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

The article explains the concept of separate legal personality means that a company is considered a legal person separate from its owners and directors. Once company has been incorporated or registered, it obtains a legal entity separate separate from the owners and the people running the company (i.e. directors).

A legal entity is any business organization that is legally permitted to enter into a contract, including a contract for the purchase, sale, or lease of real property. Legal entity interests may be owned individually, owned by another legal entity, or held in trust.

A corporation, sometimes called a C corp, is a legal entity that's separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.

The Guam Business Corporation Act (the "Guam Act") updates Guam's general corporation laws, creating uniformity with the corporate laws of other jurisdictions, while tailoring certain statutes to accomplish Guam's long-standing objective to attract off-island interest and facilitate investment in local businesses.

A corporation is a legal entity separate from its owners, made up of individuals, groups, or other corporations, that has the power to conduct business and to own property, assets, and liabilities.

In business and legal contexts, a ?single entity? typically refers to a standalone business or organization that is recognized as an independent legal person. This means the entity can enter into contracts, own property, sue and be sued, and engage in business activities separate from its owners or stakeholders.

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Guam Approval of amendment to articles of incorporation to permit certain uses of distributions from capital surplus