Authority of Governor to Grant Corporate Charters

Authority of Governor to Grant Corporate Charters. The Governor may grant charters of incorporation for the establishment and functioning of business organizations, associations of persons for any lawful purpose other than pecuniary profit, cooperatives and credit unions. The Governor may create and establish public corporations subject to approval and consent of the legislature. Source: 37 TTC § 1. Commission Comment: Executive Order 94-3, the “Second Reorganization Plan of 1994” (effective August 23, 1994), reorganized the Commonwealth government executive branch, changed agency names and official titles and effected numerous other revisions. According to Executive Order 94-3, § 107: Section 107. Corporate Charters. All functions of the governor relating to corporate charters pursuant to Chapter l of 4 CMC, Division 4 [4 CMC § 4101 et seq.], are delegated to the Attorney General. The full text of Executive Order 94-3 is set forth in the Commission comment to 1 CMC § 2001.