Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 1931 Short Title
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1931. Short Title. This chapter may be cited as the Developer Infrastructure Tax Act of 1993. Source: PL 8-23, § 1. Commission Comment: PL 8-23 took effect July 19, 1993. According to PL 8-23, § 2: Section 2. Findings…
4 CMC § 1932 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1932. Definitions. (a) “Building safety official” means the Chief of the Building Safety Division of the Department of Public Works or his or her designee. (b) “Director” means the Director of the Department of Financ…
4 CMC § 1933 Applicability
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1933 § 1933. Applicability. (a) The provisions of this chapter shall apply to all new development, as defined in 4 CMC § 1932, which has not received a building permit on July 19, 1993; provided, however, the provisio…
4 CMC § 1934 Developer Tax
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1934. Developer Tax. There is hereby imposed upon a developer, as defined by this chapter, a tax in the amount of two percent of the total project cost of new development, as defined in this chapter. Source: PL 8-23, …
4 CMC § 1935 Statement of Total Construction Costs; Administrative Fee
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1935. Statement of Total Construction Costs; Administrative Fee. (a) Statement. Upon application for a building permit, a developer shall submit a statement of estimated total project cost and evidence of tax credits,…
4 CMC § 1936 Payment of Developer Tax
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1936. Payment of Developer Tax. (a) Estimated Payment. Any person to whom the developer tax under this chapter applies shall pay an estimated payment of the tax based upon the statement of total project cost as verifi…
4 CMC § 1937 Enforcement
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1937. Enforcement. (a) Administrative Review. Any appeal of the Director of Finance’s decision pursuant to this chapter shall be had in accordance with 1 CMC § 9101 et seq. (b) Judicial Review. Within 20 days after th…
4 CMC § 1938 Segregation of Funds
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1938. Segregation of Funds. (a) The Director of Finance shall establish and maintain an interest-bearing trust account for each senatorial district into which developer tax payments collected pursuant to this chapter …
4 CMC § 1939 Use of Funds
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1939. Use of Funds. (a) All developer taxes collected pursuant to this chapter shall be used for infrastructure improvements for the benefit of the senatorial district in which the development shall be located. For th…
4 CMC § 1940 Physical Development Plans
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1940. Physical Development Plans. The Commonwealth Utilities Corporation shall prepare and present to the respective legislative delegations for adoption detailed physical development plans for the electrical, water, …
4 CMC § 1941 Appropriation Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1941. Appropriation Authority. The funds in the accounts established by the Secretary of the Department of Finance pursuant to this Chapter shall be appropriated by the respective legislative delegation in accordance …
4 CMC § 1942 Repayment of Infrastructure Loans
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1942. Repayment of Infrastructure Loans. Dedicated funds may be appropriated and used as a pledge or collateral to repay or to secure external financing arrangements for infrastructure loans from private or public len…
4 CMC § 1943 Tax Credits; Connection Fees; Voluntary Contributions
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1943. Tax Credits; Connection Fees; Voluntary Contributions. (a) Connection Fees. Connection fees, in excess of actual costs of connection to Commonwealth Utilities Corporation utilities charged to a developer prior t…
4 CMC § 1944 Connection Fees
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1944. Connection Fees. Nothing in this chapter shall be construed to limit the authority of the Commonwealth Utilities Corporation to impose connection fees for power, water, or sewer services, nor to limit the amount…
4 CMC § 1945 Coastal Resources Management Office Fees
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1945. Coastal Resources Management Office Fees. Nothing in this chapter shall be construed to limit the authority of the Coastal Resources Management office to impose administrative fees; except that the Coastal Resou…
4 CMC § 1946 Rules and Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1946. Rules and Regulations. The director, in consultation with the building safety official, shall promulgate reasonable rules and regulations within 120 days after July 19, 1993, to carry out the intent and purpose …
4 CMC § 4511 Authority to Amend
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4511. Authority to Amend. (a) A corporation may amend its articles of incorporation at any time to add or change a provision that is required or permitted in the articles of incorporation or to …
4 CMC § 4512 Amendment by Board of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4512. Amendment by Board of Directors. Unless the articles of incorporation provide otherwise, a corporation’s board of directors may adopt one or more amendments to the corporation’s articles o…
4 CMC § 4513 Amendment by Board of Directors and Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4513. Amendment by Board of Directors and Shareholders. (a) A corporation’s board of directors may propose one or more amendments to the articles of incorporation for submission to the sharehold…
4 CMC § 4514 Voting on Amendments by Voting Groups
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4514. Voting on Amendments by Voting Groups. (a) The holders of the outstanding shares of a class are entitled to vote as a separate voting group (if shareholder voting is otherwise required by …
4 CMC § 4515 Amendment Before Issuance of Shares
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4515. Amendment Before Issuance of Shares. If a corporation has not yet issued shares, its incorporators or board of directors may adopt one or more amendments to the corporation’s articles of i…
4 CMC § 4516 Article of Amendment
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4516. Articles of Amendment. A corporation amending its articles of incorporation shall deliver to the Registrar of Corporations for filing articles of amendment setting forth: (1) The name of t…
4 CMC § 4517 Restated Article of Incorporation
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4517. Restated Articles of Incorporation. (a) A corporation’s board of directors may restate its articles of incorporation at any time with or without shareholder action. (b) The restatement may…
4 CMC § 4518 Amendment Pursuant to Reorganization
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4518. Amendment Pursuant to Reorganization. (a) A corporation’s articles of incorporation may be amended without action by the board of directors or shareholders to carry out a plan of reorganiz…
4 CMC § 4519 Effect of Amendment
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4519. Effect of Amendment. An amendment to articles of incorporation does not affect a cause of action existing against or in favor of the corporation, a proceeding to which the corporation is a…
4 CMC § 4531 Amendment by Board of Directors or Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4531. Amendment by Board of Directors or Shareholders. (a) A corporation’s board of directors may amend or repeal the corporation’s bylaws unless: (1) The articles of incorporation or this part …
4 CMC § 4532 Bylaws Increasing Quorum or Voting Requirement for Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4532. Bylaws Increasing Quorum or Voting Requirement for Shareholders. (a) If authorized by the articles of incorporation, the shareholders may adopt or amend a bylaw that fixes a greater quorum…
4 CMC § 4533 Bylaw Increasing Quorum or Voting Requirement for Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4533. Bylaw Increasing Quorum or Voting Requirement for Directors. (a) A bylaw that fixes a greater quorum or voting requirement for the board of directors may be amended or repealed: (1) If ori…
4 CMC § 4931 Law Governing Foreign Limited Liability Companies
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4931. Law Governing Foreign Limited Liability Companies. (a) The laws of the state or other jurisdiction under which a foreign limited liability company is organized govern its organization and …
4 CMC § 4932 Application for Certificate of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4932. Application for Certificate of Authority. (a) A foreign limited liability company may apply for a certificate of authority to transact business in the Commonwealth by delivering an applica…
4 CMC § 4933 Activities Not Constituting Transacting Business
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4933. Activities Not Constituting Transacting Business. (a) Activities of a foreign limited liability company that do not constitute transacting business in the Commonwealth within the meaning o…
4 CMC § 4934 Issuance of Certificate of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4934. Issuance of Certificate of Authority. Unless the Registrar of Corporations determines that an application for a certificate of authority fails to comply as to form with the filing requirem…
4 CMC § 4935 Name of Foreign Limited Liability Company
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4935. Name of Foreign Limited Liability Company. (a) If the name of a foreign limited liability company does not satisfy the requirements of section 4806, the company, to obtain or maintain a ce…
4 CMC § 4936 Revocation of Certificate of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4936. Revocation of Certificate of Authority. (a) A certificate of authority of a foreign limited liability company to transact business in the Commonwealth may be revoked by the Registrar of Co…
4 CMC § 4937 Cancellation of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4937. Cancellation of Authority. A foreign limited liability company may cancel its authority to transact business in the Commonwealth by filing in the office of the Registrar of Corporations a …
4 CMC § 4938 Effect of Failure to Obtain Certificate of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4938. Effect of Failure to Obtain Certificate of Authority. (a) A foreign limited liability company transacting business in the Commonwealth may not maintain an action or proceeding in the Commo…
4 CMC § 4939 Action by Attorney General
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4939. Action by Attorney General. The Attorney General may maintain an action to restrain a foreign limited liability company from transacting business in the Commonwealth in violation of this A…
4 CMC § 50101 Application for Foreign Retiree Investment Certificate
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50101. Application for Foreign Retiree Investment Certificate. An application to the Department of Commerce for a foreign retiree investment certificate shall be executed while the applicant is lawfully within the Comm…
4 CMC § 50102 Criteria for Eligibility
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50102. Criteria for Eligibility. To be considered for eligibility for a foreign retiree investment certificate, an applicant shall submit proof as requested for the secretary’s review of the following: (a) That applica…
4 CMC § 50103 Certification; Identification Card
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50103. Certification; Identification Card. After the alien applicant has submitted all documentation set forth in this Chapter, and fees as required, and is, based on a review of such documentation, determined by the s…
4 CMC § 50104 Duration of Certificate
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50104. Duration of Certificate. The duration of the foreign retiree investment certificate and visa issued pursuant thereto shall be five years; provided that the alien continues to comply with the standards of issuanc…
4 CMC § 50105 Revocation
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50105. Revocation. The secretary may revoke a foreign retiree investment certificate and visa only after conducting a hearing at which the holder appears and may present evidence of continued eligibility and finding, u…
4 CMC § 50106 Reports [Deleted by PL 17-1 § 6(G)(2)]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50106. Reports [Deleted by PL 17-1 § 6(G)(2)]. Source: PL 11-60, § 8; deleted by PL 17-1 § 6(G)(2) (March 22, 2010).* Commission Comment: *PL 17-1 contained the following section regarding the effective date of the law…
4 CMC § 50107 Death of Foreign Retiree
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50107. Death of Foreign Retiree. Upon the death of the primary holder of a foreign retiree investment certificate and visa, the dependents of the primary holder shall be allowed to stay in the Commonwealth for the rema…
4 CMC § 50108 Two-Year Foreign Retiree Investment Certificate
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50108. Two-Year Foreign Retiree Investment Certificate. There is hereby established a pilot program to permit alien retirees to live in the Commonwealth not to exceed two years subject to the provisions of this section…
4 CMC § 50109 Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50109. Regulations. The Department of Commerce and the Office of the Attorney General shall consult each other to promulgate rules and regulations to implement the intent and provisions of this act as it pertains to re…
4 CMC § 60101 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60101. Definitions. As used in this chapter: (1) For open-end plans, “annual percentage rate” means the annual percentage rate determined under section 226.14(b) of Regulation Z. For all other loans, “an…
4 CMC § 60102 Construction of Chapter
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60102. Construction of Chapter. Nothing in this chapter shall be construed or held to limit the rights, powers or privileges granted to any person by any law of the Commonwealth or of the United States w…
4 CMC § 60103 Short Title
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60103. Short Title. This chapter may be cited as the “Regulated Loan Act of 2000.” Source: PL 12-36, § 1(6952).
4 CMC § 60104 Incomplete Promises to Pay Prohibited
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60104. Incomplete Promises to Pay Prohibited. No licensee shall take any note or promise to pay in which blanks are left to be filled in after execution. Source: PL 12-36, § 1(6954).