Nonresident. Transferred Generally

When the shares of stock in a corporation are owned by parties residing out of Guam, the president, secretary, or directors of the corporation, before entering any transfer of the shares on its books, or issuing a certificate therefor to the transferee, may require from the attorney or agent of the nonresident owner, or from the person claiming under the transfer, an affidavit or other evidence that the nonresident owner was alive at the date of the transfer, and if such affidavit or other satisfactory evidence be not furnished, may require from the attorney, agent, or claimant, a bond of indemnity, with two

(2)sureties, satisfactory to the officer of the corporation; or, if not so satisfactory, then one approved by a judge of the Superior Court, conditioned to protect the corporation against any liability to the legal representative of the owner of the shares in case of his or her death before the transfer; and if such affidavit or other evidence or bond be not furnished when required as herein provided, neither the corporation nor any officer thereof shall be liable for refusing to enter the transfer on the books of the corporation. COL021307 CH. 3 CORPORATE S TOCK