Surplus. — Guam Code § 12110
Guam Code § 12110 — Surplus.. Reproduced from the official Guam Code Annotated, with a citation summary, verification link, and related provisions.
§ 12110. Surplus.
Each year the corporation shall set apart as earned surplus not less than
ten percent (10%) of its net earnings for the preceding fiscal year until such
surplus shall be equal in value to one-half (2) of the amount paid in on the
capital stock then outstanding. Whenever the amount of surplus established
herein shall become impaired, it shall be built up again to the required
amount in the manner provided for its original accumulation. Net earnings
and surplus shall be determined by the board of directors, after providing
for such reserves as said directors deem desirable, and the determination of
the directors made in good faith shall be conclusive on all persons.
Source: official Guam text · Last verified 2026-08-27
At a glance
- Citation: Guam Code Annotated § 12110
- Jurisdiction: Guam
- Code: Guam Code Annotated
- Subject: Surplus.
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Guam Code Annotated. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Guam attorney.
Common questions
What is the source of Guam Code Annotated § 12110?
The text above is transcribed from the Guam Code Annotated, the codified statutes of Guam. The official publisher link appears under "Verify the text" on this page.
What subject does Guam Code Annotated § 12110 address?
It addresses "Surplus.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Guam Code Annotated § 12110 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Guam source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Guam law to your facts requires a licensed Guam attorney who can review the specifics.