Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
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).
4 CMC § 60105 False Advertising Prohibited
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60105. False Advertising Prohibited. No licensee or other person shall advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, dist…
4 CMC § 60121 License Required for Certain Loans
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60121. License Required for Certain Loans. No person, without first obtaining a license under this chapter, shall charge or receive, directly or indirectly, on or in connection with any loan, any interes…
4 CMC § 60122 Residence Qualifications of Licenses
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60122. Residence Qualifications of Licenses. No license shall be granted to any person unless (1) if the person is an individual, the individual is a bona fide resident of the Commonwealth; (2) if the pe…
4 CMC § 60123 Application for License; Initial License Fee
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60123. Application for License; Initial License Fee. (1) Application for the license shall be in writing in the form prescribed by the secretary and shall contain the name and both the residence and busi…
4 CMC § 60124 Issuance of License; Conditions
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60124. Issuance of License; Conditions. (1) Conditioned upon the applicant’s compliance with this chapter and the payment of the license fee, the secretary, within 60 days after receipt of a completed ap…
4 CMC § 60125 Disapproval of Application
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60125. Disapproval of Application. If the secretary disapproves an application for a license, the secretary shall notify the applicant immediately, giving the reason for the disapproval. Source: PL 12-36…
4 CMC § 60131 Form of License; Posting; Transferability
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60131. Form of License; Posting; Transferability. The license shall be in a form prescribed by the secretary and shall state the address of the principal place where the business is to be conducted and t…
4 CMC § 60132 License Fees
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60132. License Fees. Each licensee shall pay to the secretary each year after the year the license is issued an annual license fee of $300. The fee shall be paid on or before March 15 of each year. Sourc…
4 CMC § 60133 Annual Report of Licensee; Penalty for Failure to Report
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60133. Annual Report of Licensee; Penalty for Failure to Report. (1) On or before March 15 of each year every licensee shall file a report with the secretary giving such relevant information as the secre…
4 CMC § 60134 Additional Licenses to Same Applicant
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60134. Additional Licenses to Same Applicant. The secretary may issue more than one license to the same licensee if the licensee complies with all the provisions of this chapter governing an original iss…
4 CMC § 60135 Change of Place of Business
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 60135. Change of Place of Business. When a licensee wishes to change the principal place of business to another location, the licensee shall submit written notice thereof, together with the license, to t…