Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 5432 Offenses and Penalties
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5432. Offenses and Penalties. Any person who, personally or by a servant or agent, or as the servant or agent of another person, performs any of the acts enumerated in subsections (a) through (i) of this section shall …
4 CMC § 5433 Injunction
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5433. Injunction. In addition to any other remedy provided by law, the Governor may apply to the Commonwealth Trial Court for, and the court upon hearing, and for cause shown may grant, a temporary or permanent injunct…
4 CMC § 5441 Metric System Authorized; Conversion Tables
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5441. Metric System Authorized; Conversion Tables. The metric system of measurement of lengths and areas may be employed within the Commonwealth. No contract or dealing, or pleading in any court shall be deemed invalid…
4 CMC § 5442 Markers: Payment
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5442. Markers: Payment. The Chief of Lands and Surveys shall collect and deposit with the Commonwealth Treasurer the reasonable cost of land markers furnished by the Department of Natural Resources. Source: 57 TTC § 25…
4 CMC § 5443 Markers: Removal
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5443. Markers: Removal. (a) It is unlawful for any person to willfully and maliciously deface, alter or remove any marker, monument or reference point which marks or determines the configuration or contour of any lot o…
4 CMC § 6411 Required Reports
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6411. Required Reports. (a) Annual Report. The director may examine the condition of any bank conducting banking business from within the Commonwealth at any time. Each bank shall annually submit consoli…
4 CMC § 6412 Notice of Sale of Stock
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6412. Notice of Sale of Stock. Every bank shall within 60 days notify the director of any sale or transfer of 10 percent or more of the voting stock in the bank and shall provide the information required…
4 CMC § 6413 Audit Fees
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6413. Audit Fees. The director shall charge an examination fee based on cost per hour per examiner and other related reasonable expenses for any banks examined by the director or his staff. These fees sh…
4 CMC § 6414 Powers and Duties of Director in Connection with Examinations
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6414. Powers and Duties of Director in Connection with Examinations. (a) In the performance of his functions under this law and subject to the provisions of subsection (b) of this section, the director s…
4 CMC § 6415 Penalties for Violation of 4 CMC §§ 6411-6414
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6415. Penalties for Violation of 4 CMC §§ 6411-6414. Any person who knowingly and wilfully fails to comply with any requirement of 4 CMC §§ 6411 through 6414 may be found guilty of a misdemeanor punishab…
4 CMC § 6416 Preservation of Bank Records
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6416. Preservation of Bank Records. (a) Every bank shall retain its business records for such periods as are or may be prescribed by or in accordance with the terms of this section. (b) Each bank shall r…
4 CMC § 6451 Confidentiality of Information
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6451. Confidentiality of Information. All information not required to be published elsewhere by any other authority to whose jurisdiction a licensee shall be subject, and all information other than that …
4 CMC § 6452 Disclosure by the Director
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6452. Disclosure by the Director. The director shall make the following disclosure of information supplied to it by an applicant or a licensee: (a) The annual audited financial statements of each bank by…
4 CMC § 6453 Right to Privacy
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6453. Right to Privacy. The right to privacy and the right to financial privacy protected by the Covenant, incorporating the terms of Constitution of the United States, and N.M.I. Const. art. I, § 10, of…
4 CMC § 6454 Financial Privacy Act Adopted
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6454. Financial Privacy Act Adopted. (a) Financial Privacy Act Adopted. The United States Right to Financial Privacy Act of 1978 (12 U.S.C. §§ 3401 et seq.), is adopted as a statute of the Commonwealth i…
4 CMC § 7401 Short title
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7401. Short title. This chapter may be cited as the Uniform Insurers Liquidation Act. Source: PL 3-107, § 23, modified. Commission Comment: PL 3-107, § 23, the Uniform Insurers Liquidation Act, was originally codified entirely a…
4 CMC § 7402 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7402. Definitions. For the purpose of this chapter: (a) “Ancillary state” means any state other than a domiciliary state; (b) “Court” means the Commonwealth Trial Court; (c) “Delinquency proceeding” means any proceeding commence…
4 CMC § 7403 Conduct of Delinquency Proceedings Against Insurers Domiciled in the Commonwealth
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7403. Conduct of Delinquency Proceedings Against Insurers Domiciled in the Commonwealth. (a) Whenever, under the laws of the Commonwealth, a receiver is to be appointed in delinquency proceedings for an insurer domiciled in the …
4 CMC § 7404 Conduct of Delinquency Proceedings Against Insurers Not Domiciled in the Commonwealth
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7404. Conduct of Delinquency Proceedings Against Insurers Not Domiciled in the Commonwealth. (a) Whenever under the laws of the Commonwealth an ancillary receiver is to be appointed in delinquency proceedings for an insurer not …
4 CMC § 7405 Filing and Proving of Claims of Nonresidents Against Delinquent Insurers Domiciled in the Commonwealth
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7405. Filing and Proving of Claims of Nonresidents Against Delinquent Insurers Domiciled in the Commonwealth. (a) In a delinquency proceeding begun in the Commonwealth against an insurer domiciled in the Commonwealth, claimants …
4 CMC § 7406 Filing and Proving of Claims of Residents Against Delinquent Insurers Domiciled in Reciprocal States
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7406. Filing and Proving of Claims of Residents Against Delinquent Insurers Domiciled in Reciprocal States. (a) In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the …
4 CMC § 7407 Priority of Preferred Claims
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7407. Priority of Preferred Claims. (a) In a delinquency proceeding against an insurer domiciled in the Commonwealth, claims owing to residents of ancillary states shall be preferred claims, if like claims are preferred under th…
4 CMC § 7408 Priority of Special Deposit Claims
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7408. Priority of Special Deposit Claims. The owners of special deposit claims against an insurer for which a receiver is appointed in any state shall be given priority against their several special deposits in accordance with t…
4 CMC § 7409 Priority of Secured Claims
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7409. Priority of Secured Claims. The owner of a secured claim against an insurer for which a receiver has been appointed in any state may surrender his or her security and file a claim as a general creditor, or the claim may be…
4 CMC § 7410 Attachment and Garnishment of Assets
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7410. Attachment and Garnishment of Assets. During the pendency of delinquency proceedings in the Commonwealth or any reciprocal state, no action or proceeding in the nature of an attachment, garnishment, or execution shall be c…
4 CMC § 7411 Right of Domiciliary Receiver to Sue in the Commonwealth
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7411. Right of Domiciliary Receiver to Sue in the Commonwealth. The domiciliary receiver of an insurer domiciled in a reciprocal state may sue in the Commonwealth to recover any assets of such insurer to which the domiciliary re…
4 CMC § 7412 Uniformity of Interpretation
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7412. Uniformity of Interpretation. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states that enact it. Source: PL 3-107, § 23, modified. Commission Comm…
4 CMC § 8401 Short Title
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8401. Short Title. This Chapter may be cited as the Public Utilities Commission Act. Source: PL 12-39, § 1(b) (8301), modified; repealed and reenacted by PL 15-35, § 2 (8401), modified. Commission Comment: PL 12-39, § 1(b), inco…
4 CMC § 8402 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8402. Definitions. As used in this Chapter: (a) “Cable television company” means any person or corporation that owns, controls, administers, operates, manages, provides or resells, in full or in part, directly or indirectly, any…
4 CMC § 8403 Public Utilities Commission: Establishment and Commissioners
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TITLE 4: ECONOMIC RESOURCES § 8403 DIVISION 8: UTILITIES § 8403. Public Utilities Commission: Establishment and Commissioners. (a) There is established in the Commonwealth government the Public Utilities Commission, a regulatory agency, in accordance with Article III, Section 15 …
4 CMC § 8404 Compensation of Commissioners
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TITLE 4: ECONOMIC RESOURCES § 8404 DIVISION 8: UTILITIES § 8404. Compensation of Commissioners. The Commissioners shall be compensated at a monthly rate of $800.00 per commissioner, expect the Chairperson shall receive $1,000.00 monthly, provided all scheduled monthly meetings ar…
4 CMC § 8405 Cause for Dismissal
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8405. Cause for Dismissal. In accordance with Article III, Section 21 of the NMI Constitution, the Governor may dismiss a Commissioner only for one or more of the following causes: (a) Gross neglect or dereliction of duty; (b) B…
4 CMC § 8406 Operation of Commission
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TITLE 4: ECONOMIC RESOURCES § 8406 DIVISION 8: UTILITIES § 8406. Operation of Commission. (a) The Commission may employ agents, employees, hearing examiners, legal counsel, or contract for services, specialists, experts, or professionals as individuals or as organizations to advi…
4 CMC § 8407 Operation of Commission: Additional
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8407. Operation of Commission: Additional. (a) Notwithstanding any other provision of law, the Commission may meet for purposes of gathering information on entities and requesting, demanding, and accepting reports and documents …
4 CMC § 8408 Annual Report
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8408. Annual Report. The Commission shall prepare and present to the Governor and to the presiding officers of the Legislature, in January of each year, a report regarding its actions during the preceding fiscal year, if any, to…
4 CMC § 8411 General Powers and Duties
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TITLE 4: ECONOMIC RESOURCES § 8411 DIVISION 8: UTILITIES § 8411. General Powers and Duties. The Commission shall have regulatory oversight supervision over each regulated entity as set forth in this Chapter and shall perform the duties and exercise the powers imposed or conferred…
4 CMC § 8412 Powers
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8412. Powers. The Commission shall have the following powers which it may exercise in carrying out its mandate to regulate rates: (a) To examine the financial records of each regulated, including but not limited to, all bank rec…
4 CMC § 8413 Valuations
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8413. Valuations. The Commission may cause a valuation to be made to ascertain for any purpose specified in this Chapter the value of the property of any entity and every fact and element of value which in its judgment may have …
4 CMC § 8414 Compelling Attendance of Witnesses
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8414. Compelling Attendance of Witnesses. In all investigations made by the Commission and in all proceedings before it, the Commission shall have the same powers respecting administering oaths, compelling the attendance of witn…
4 CMC § 8415 Enforcement Powers
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8415. Enforcement Powers. The Commission may: (a) Carry out public hearings and investigations; (b) Issue subpoenas, orders to show cause and citations with warning of contempt. Any subpoena or citation with warning of contempt …
4 CMC § 8416 Consumer Counsel
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8416. Consumer Counsel. In any proceeding before the Commission, the Consumer Counsel of the Office of the Attorney General may intervene and participate as a party. Source: PL 15-35, § 2 (8414), modified.
4 CMC § 8421 Notice of Hearings
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8421. Notice of Hearings. Whenever an investigation or proceeding is undertaken by the Commission, reasonable notice in writing of such fact and of the subject or subjects of the investigation or proceeding shall be given to the…
4 CMC § 8422 Public Hearings
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8422. Public Hearings. The Commission shall hold public hearings on any change in proposed rates or charges. (a) The notice of public hearing herein provided for shall plainly state the rates, charges, or assessment costs propos…
4 CMC § 8423 Right to Be Represented By Counsel
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8423. Right to be Represented by Counsel. At any investigation by or proceeding before the Commission, the entity concerned shall have the right to be present and represented by counsel, to present any evidence desired, and to c…
4 CMC § 8424 Rule-making Authority: Procedures and Fees
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TITLE 4: ECONOMIC RESOURCES § 8424 DIVISION 8: UTILITIES § 8424. Rule-making Authority: Procedures and Fees. In the hearings before it, the Commission may establish its own procedures for the conduct of hearings and the admission of evidence. The Commission shall not be bound by …
4 CMC § 8426 Review of Rates; Operating Cost of Commission
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TITLE 4: ECONOMIC RESOURCES § 8426 DIVISION 8: UTILITIES § 8426. Review of Rates; Operating Cost of Commission. (a) In addition to every other responsibility imposed upon the Commission by this Chapter, it shall within three-hundred-sixty-five days after the Commission first meet…
4 CMC § 8427 Public Utilities Commission Revolving Fund
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TITLE 4: ECONOMIC RESOURCES § 8427 DIVISION 8: UTILITIES § 8427. Public Utilities Commission Revolving Fund. A Public Utilities Commission Fund shall be established for the use of the Commission consisting of all financial amounts as may be placed therein pursuant to the provisio…
4 CMC § 8431 Regulated Entities to Furnish Information
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8431. Regulated Entities to Furnish Information. Every regulated entity shall at all times, upon request, furnish to the Commission all information that it may require respecting any of the matters concerning rates and charges, …
4 CMC § 8432 Rate Publication
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8432. Rate Publication. All regulated rates, assessment costs, classifications, charges, and rules of every entity shall be published by the entity in such manner as the Commission may require and copies furnished to any person …
4 CMC § 8433 Compliance
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8433. Compliance. Notwithstanding any other provision of law, no rate or charge for any regulated entity shall become effective without the approval of the Commission. In this respect a regulated entity shall comply with this Ch…