TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION
§ 53033. Characteristics of License. (a) A license granted under this chapter shall: (l) Be a purely personal privilege. (2) Be valid for the period stated in the license. (3) Be renewable in the manner provided in this chapter, except for a cause which would be grounds for refusal to issue such license as provided by this chapter. (4) Be revocable or suspendible as provided in this chapter. (5) Be transferable from the premises for which the license was originally issued to another premises subject to the provisions of this chapter, any rules of the Commission, and local regulation. (6) Cease upon the death of the licensee, except as provided in subsection (b). (7) Not constitute property. (8) Not be alienable. (9) Not be subject to attachment or execution. (10) Not descend by the laws of testate or intestate devolution. (b) The Commission may, by order, provide for the manner and conditions under which: (1) Marijuana items left by any deceased, insolvent or bankrupt person or licensee, or subject to a security interest, may be foreclosed, sold under execution or otherwise disposed of. (2) The business of any deceased, insolvent or bankrupt licensee may be operated for a reasonable period following the death, insolvency or bankruptcy. (3) A business licensed pursuant to this chapter subject to a security interest may be continued in business by a secured party for a reasonable period after default on the indebtedness by the debtor. Source: PL 20-66 § 2(133) (Sept. 21, 2018), modified. Commission Comment: The Commission changed “Act” to “chapter”; inserted a comma after “Commission” in (a)(5); and struck “of this section” in (a)(6) pursuant to 1 CMC § 3806(g).