Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 4405 Corporation's Acceptance of Votes
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4405. Corporation’s Acceptance of Votes. (a) If the name signed on a vote, consent, waiver, or proxy appointment corresponds to the name of a shareholder, the corporation if acting in good faith…
4 CMC § 4406 Quorum and Voting Requirements for Voting Groups
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4406. Quorum and Voting Requirements for Voting Groups. (a) Shares entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares exists wi…
4 CMC § 4407 Action by Single or Multiple Voting Groups
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4407. Action by Single and Multiple Voting Groups. (a) If the articles of incorporation or this part provide for voting by a single voting group on a matter, action on that matter is taken when …
4 CMC § 4408 Greater Quorum or Voting Requirements
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4408. Greater Quorum or Voting Requirements. (a) The articles of incorporation may provide for a greater quorum or voting requirement for shareholders (or voting groups of shareholders) than is …
4 CMC § 4409 Voting for Directors; Cumulative Voting
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4409. Voting for Directors; Cumulative Voting. (a) Unless otherwise provided in the articles of incorporation, directors are elected by a plurality of the votes cast by the shares entitled to vo…
4 CMC § 4421 Voting Trusts
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4421. Voting Trusts. (a) One or more shareholders may create a voting trust, conferring on a trustee the right to vote or otherwise act for them, by signing an agreement setting out the provisio…
4 CMC § 4422 Voting Agreements
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4422. Voting Agreements. (a) Two or more shareholders may provide for the manner in which they will vote their shares by signing an agreement for that purpose. A voting agreement created under t…
4 CMC § 4431 Procedure in Derivative Proceedings
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4431. Procedure in Derivative Proceedings. (a) A person may not commence a proceeding in the right of a domestic or foreign corporation unless he was a shareholder of the corporation when the tr…
4 CMC § 4891 Company Purchase of Distributional Interest
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4891. Company Purchase of Distributional Interest. (a) A limited liability company shall purchase a distributional interest of a: (1) Member of an at-will company for its fair value determined a…
4 CMC § 4892 Court Action to Determine Fair Value of Distributional Interest
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4892. Court Action to Determine Fair Value of Distributional Interest. (a) In an action brought to determine the fair value of a distributional interest in a limited liability company, the court…
4 CMC § 4893 Dissociated Member's Power to Bind Limited Liability Company
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4893. Dissociated Member’s Power to Bind Limited Liability Company. For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liabi…
4 CMC § 4894 Statement of Dissociation
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4894. Statement of Dissociation. (a) A dissociated member or a limited liability company may file in the office of the Registrar of Corporations a statement of dissociation stating the name of t…
4 CMC § 5701 Definitions [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5701. Definitions [Repealed]. Source: PL 10-9, § 3 (§ 5601); amended by PL 11-73, § 8, modified; subsection (d) repealed and subsection (f) amended by PL 11-76, § 6 and 9(a) respectively; repealed by PL 17-1 § 6(C) (Ma…
4 CMC § 5702 Prohibition on Issuance of New Licenses. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5702. Prohibition on Issuance of New Licenses [Repealed]. Source: PL 10-9, § 3 (§ 5602); amended by PL 11-73, § 9; PL 12-11, § 3 a; repealed by PL 17-1 § 6(C) (March 22, 2010).* Commission Comment: With respect to the …
4 CMC § 5703 Restriction on Renewal of License. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5703. Restriction on Renewal of License [Repealed]. Source: PL 10-9, § 3 (§ 5603), modified; amended by PL 11-73, § 10; PL 12-11, § 3 b; amended by PL 14-82, § 3; repealed by PL 17-1 § 6(C) (March 22, 2010)* Commission…
4 CMC § 5704 Restriction on Issuance of Labor Certificates and Entry Permits. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5704. Restriction on Issuance of Labor Certificates and Entry Permits [Repealed]. Source: PL 10-9, § 3 (§ 5604); amended by PL 11-76, § 7, modified; subsection (d) added by PL 12-11, § 3 c; amended by global amendment …
4 CMC § 5705 Garment Worker Pool. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5705. Garment Worker Pool. [Repealed.] Source: PL 10-9, § 3 (§ 5605); repealed by PL 11-76, § 9(b). Commission Comment: PL 11-76 which repealed this section took effect on March 26, 1999. PL 11-76 contained findings an…
4 CMC § 5706 Reporting Requirements and Penalties. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5706. Reporting Requirements and Penalties. [Repealed] Source: PL 10-9, § 3 (§ 5606); repealed by PL 17-1 § 6(C) (March 22, 2010).* Commission Comment: *PL 17-1 contained the following section regarding the effective d…
4 CMC § 5707 Authority to Implement by Rules and Regulations. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5707. Authority to Implement by Rules and Regulations. [Repealed] Source: PL 10-9, § 3 (§ 5607), modified; repealed by PL 17-1 § 6(C) (March 22, 2010).* Commission Comment: According to PL 10-9, § 4: “Any procedural or…
4 CMC § 5708 Garment Manufacturing Industry Cap and Foreign National Worker Quota [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5708. Garment Manufacturing Industry Cap and Foreign National Worker Quota [Repealed]. Source: PL 11-76, § 2, modified; amended by PL 12-11, § 6 a; section title and subsection (a) amended by global amendment PL 15-108…
4 CMC § 5709 Prohibition on Manpower Hire. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5709. Prohibition on Manpower Hire [Repealed]. Source: PL 11-76, § 5, modified; amended by PL 12-11, § 6 c; repealed by PL 17-1 § 6(C) (March 22, 2010).* Commission Comment: PL 11-76 which created this section took eff…
4 CMC § 5710 Criminal Penalties. [Repealed]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5710. Criminal Penalties [Repealed]. Source: PL 11-76, § 5, modified; repealed by PL 17-1 § 6(C) (March 22, 2010).* Commission Comment: PL 11-76 which created this section took effect on March 26, 1999. See the comment…
4 CMC § 5711 Maintaining and Monitoring Cap. [Repealed.]
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5711. Maintaining and Monitoring Cap [Repealed]. Source: PL 12-11, § 6 d., modified; repealed by PL 17-1 § 6(C) (March 22, 2010).* Commission Comment: PL 12-11, which created this section took effect on August 3, 2000.…
4 CMC § 6701 Liability of Officers, Directors, Employees, and Agents
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6701. Liability of Officers, Directors, Employees, and Agents. An officer, director, employee, agent, or attorney of a bank is responsible for an act or omission of the institution declared to be a crimi…
4 CMC § 6702 Limitation of Personal Liability
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6702. Limitation of Personal Liability. The director and other employees of the department shall not be liable in any civil action for damages for any act done or omitted in good faith in performing the …
4 CMC § 7701 Short title
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7701. Short Title. This chapter shall be known as “Health Claims Uniformity and Prompt Payment Act.” Source: PL 20-88 § 2(101) (Feb. 8, 2019), modified. Commission Comment: In codifying PL 20-88, the Commission numbered and renu…
4 CMC § 7702 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7702. Definitions. For the purposes of this chapter, (a) “Claim” means (1) a bill for services, (2) a line item of service, or (3) all services for one member within a bill. (b) “Clean Claim” means one that is without material d…
4 CMC § 7703 Prompt Payment
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7703. Prompt Payment. (a) Within 180 calendar days of the effective date of this Act, for covered services rendered to its members, a health insurance issuer shall reimburse any person entitled to reimbursement under the health …
4 CMC § 7704 Electronic Claims and Eligibility Transactions Required
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7704. Electronic Claims and Eligibility Transactions Required. (a)Within one calendar year of the effective date of PL 20-88, Health Insurance Issuers shall provide for the acceptance of electronic claims transactions from Healt…
4 CMC § 7705 Claims Payment Report
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7705. Claims Payment Report. (a) Health Insurance Issuers shall include with its annual report filed with the Insurance Commissioner a claims payment report to include the: (1) Number of claims received in the previous calendar …
4 CMC § 7706 Rules and Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7706. Rules and Regulations. (a) The Insurance Commissioner may adopt rules, regulations, and penalties as necessary to implement this chapter. (b) When adopting rules under this section the Commissioner: (1) Shall consult with …
4 CMC § 7707 Applicability
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TITLE 4: ECONOMIC RESOURCES DIVISION 7: INSURANCE § 7707. Applicability. This chapter shall apply to any individual or group Health Plan issued or renewed by a Health Insurance Issuer as defined in this chapter." Source: PL 20-88 § 2(107) (Feb. 8, 2019), modified. Commission Comm…
4 CMC § 9701 Major Disaster Volunteer Protection
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TITLE 4: ECONOMIC RESOURCES DIVISION 9: LABOR § 9701. Major Disaster Volunteer Protection. (a) Definitions. In this section, the following words have the following meanings, unless the context clearly requires a different meaning: (1) "respond to an emergency" means the mobilizat…
4 CMC § 9711 Earned Compensation and Earned Subsistence Allowance
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TITLE 4: ECONOMIC RESOURCES DIVISION 9: LABOR § 9711. Earned Compensation and Earned Subsistence Allowance. (a)(1) If, at the time of the death of any person, an employer is indebted to the person for work, labor, or services performed, and no personal representative of the perso…
4 CMC § D1C7A2 Article 2. [Reserved]
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION Article 2. [Reserved.] Commission Comment: The “Tax Source Act of 1987” (former 4 CMC §§ 1721-1723) was repealed by PL 9-22, § 1, which repealed and reenacted title 4, division 1, chapters 2 through 7.
4 CMC § 1801 Legal Tender
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1801. Legal Tender. The legal tender of the Commonwealth shall be that of the United States. Source: PL 3-11, § 801; repealed and reenacted by PL 14-35, § 4 (1801). Commission Comment: PL 14-35 was enacted on October …
4 CMC § 1802 General Fund
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1802. General Fund. There is created a General Fund into which all revenues raised pursuant to the tax laws and other revenues laws, and all monies received by the Commonwealth, its departments, agencies and instrumen…
4 CMC § 1803 Distribution of Revenues to Marianas Visitor Authority and the Retirement Fund
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1803. Distribution of Revenues Marianas Visitor Authority and the Retirement Fund. The Marianas Visitors Authority shall receive twenty percent of the taxes collected under 4 CMC § 1405(b) and eighty percent of the ta…
4 CMC § 1804 Distribution of Revenues
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1804. Distribution of Revenues. (a) Except as provided by this Division, all revenues raised pursuant to this Division shall be deposited into the General Fund. (b) The Secretary shall cause the Department of Finance …
4 CMC § 1805 Non-NMTIT Application
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1805. Non-NMTIT Application. Unless otherwise specifically provided, the provisions in this chapter shall apply to taxes other than taxes under Chapter 7 of this Division. Source: PL 3-11, § 805; amended by PL 7-19 § …
4 CMC § 1806 Delegation of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1806. Delegation of Authority. The administration and enforcement of this entire Division shall be under the supervision of the Secretary. Any of the responsibilities, tasks or duties conferred upon the Secretary here…
4 CMC § 1807 Tax Forms
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1807. Tax Forms (a) The Secretary shall prescribe the forms for all returns required to be furnished under the provisions of this Division or provide for other methods of filing returns and may provide in such forms f…
4 CMC § 1808 Transaction to be Recorded
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1808. Transaction to be Recorded. (a) Every person, engaging in any transaction subject to a tax, fee or charge imposed under this Division shall keep a complete and accurate record of each transaction in English and …
4 CMC § 1809 Record Retention and Conflict of Interest
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1809. Record Retention and Conflict of Interest. (a) The Commonwealth shall preserve the information contained in reports and returns filed under this Division until the Secretary orders them to be destroyed. (b) The …
4 CMC § 1810 Authority to Reduce and Negotiate Tax and Penalties; Authority to Make Credits or Refunds
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1810. Authority to Reduce and Negotiate Tax and Penalties; Authority to Make Credits or Refunds. (a) The Secretary may waive any additions to tax, additional amounts, or penalties, or any part thereof attaching to act…
4 CMC § 1811 Service by Publication
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1811. Service by Publication. For all tax actions, including Chapter 7 of this Division, where service of process is required, the Commonwealth Government or its designee may serve process on a party not found within …
4 CMC § 1812 Private Letter Rulings
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1812. Private Letter Rulings. The procedures for private letter rulings shall follow that form prescribed in section 1707 of this Division. Source: PL 3-11, § 812; repealed and reenacted by PL 14-35, § 4 (1812).
4 CMC § 1813 Timely Mailing Treated as Timely Filing and Paying
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1813. Timely Mailing Treated as Timely Filing and Paying. (a) General Rule. (1) Date Of Delivery. If any return, claim, statement, or other document required to be filed, or any payment req uired to be made, within a …
4 CMC § 1814 Time for Performance of Acts Where Last Day Falls On Saturday, Sunday, or Legal Holiday
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1814. Time for Performance of Acts Where Last Day Falls On Saturday, Sunday, or Legal Holiday. When the last day prescribed under authority of the Commonwealth Tax laws for performing any act falls on Saturday, Sunday…
4 CMC § 1815 Extensions to File Tax Returns
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1815. Extensions to File Tax Returns. (a) For purposes of the Wage and Salary Tax and the Earnings Tax, there shall be an extension to file a tax return as provided by regulations prescribed by the Secretary. (b) In t…