Capital: Other than Life Insurer: Increase and

Decrease.

(a)Any admitted domestic insurer may increase or decrease the amount of its capital after giving notice once a week for four

(4)consecutive weeks in a newspaper of general circulation in Guam of such intention, and by filing with the Commissioner a copy of such advertisement together with a declaration under its corporate seal, signed by stockholders representing three-fourths (3/4) of its capital, of their desire so to do.

(b)If any person shall object to such increase or decrease within one

(1)week from date of last publication and give good cause therefor, the Commissioner may order the insurer not to so increase or decrease its capital.

(c)If the insurer receives no such order from the Commissioner within ten

(10)days after last publication, it may proceed with the announced plan.