TITLE 10: LOCAL LAWS
DIVISION 1: FIRST SENATORIAL DISTRICT (ROTA)
§ 12134. Term of Licenses. (a) Once granted, a license shall remain in force until it is revoked or surrendered under conditions specified in regulations promulgated pursuant to this chapter, except during any period during which it is suspended as provided in such regulations. (b) No property right shall accrue to any person in or by virtue of any license issued under this chapter. (c) Notwithstanding the provisions of 10 CMC § 12134(b), in order to induce investment in the Municipality, the Commission may enter into licensing agreements with applicants for casinos to be located within large new development projects or large expansions of existing development pursuant to which the applicant, if it is granted a casino licensing agreement, is guaranteed a minimum term of years during which any law passed pursuant to the Local Law Act of 1983 [1 CMC §§ 1401-1408], as amended, to terminate the operations of the casinos, or any law passed pursuant to the Local Law Act of 1983, as amended or duly promulgated regulation that would work to limit significantly the operation of that casino, shall not apply to that casino. The Commission shall determine the minimum level of new investment required to qualify for such a contract, which shall not be less than $25 million in dollars, and may provide longer guaranteed terms for larger investments, except that no guarantee shall be for longer than 40 years. Source: Rota Local Initiative 1 (2007), § 6(d), modified. Commission Comment: The Commission modified this section pursuant to 1 CMC § 3806(c) and (d). The Commission substituted “chapter” for “title,” changed “paragraphs 2” to “10 CMC § 12134(b)” and inserted the bracketed citation.