Annual Meeting

(a)A corporation shall hold a meeting of shareholders annually at a time stated in or fixed in accordance with the bylaws.

(b)Annual shareholders’ meetings may be held in or out of Guam at the place stated in or fixed in accordance with the bylaws. If no place is stated in or fixed in accordance with the bylaws, annual meetings shall be held at the corporation’s principal office, or at a place determined by the board of directors.

(c)The failure to hold an annual meeting at the time stated in or fixed in accordance with a corporation’s bylaws does not affect the validity of any corporate action.