Title 4, Economic Resources

Service on Foreign Corporation. (a) The registered agent of a foreign corporation authorized to transact business in the Commonwealth is the corporation’s agent for service of process, notice, or demand required or permitted by law to be served on the foreign corporation. (b) A f…

Withdrawal of Foreign Corporation. (a) A foreign corporation authorized to transact business in the Commonwealth may not withdraw from the Commonwealth until it obtains a certificate of withdrawal from the Registrar of Corporations. (b) A foreign corporation authorized to transac…

Grounds for Revocation. The Registrar of Corporations may commence a proceeding under 4 CMC § 4672 to revoke the certificate of authority of a foreign corporation authorized to transact business in the Commonwealth if: (a) The foreign corporation does not deliver its annual repor…

Procedure for and Effect of Revocation. (a) If the Registrar of Corporations determines that one or more grounds exist under 4 CMC § 4671 for revocation of a certificate of authority, he shall serve the foreign corporation with written notice of his determination under 4 CMC § 46…

Appeal From Revocation. (a) A foreign corporation may appeal the Registrar of Corporation’s revocation of its certificate of authority to the Commonwealth Superior Court within 30 days after service of the certificate of revocation is perfected under 4 CMC § 4650. The foreign cor…

Short Title. This Act may be cited as the “Sales Receipt Act of 2002.” Source: PL 13-26, § 1. Commission Comment: PL 13-26, which became effective October 23, 2002, contained the following findings, in addition to severability and savings clause provisions: Section 2. Findings. T…

Definitions. (a) “Gross Revenue” means the total amount of money or the value received from a transaction as defined in 4 CMC § 1103 (k). (b) “Person” means any individual, estate, firm, corporation, company, joint venture, association, partnership, trust, receiver, club, syndica…

Receipt Required. All persons who receive gross revenue from a sale in the Commonwealth shall provide a receipt of the transaction as defined in Section 51202 (c) of this Act to the person from whom the gross revenue was received. Source: PL 13-26, § 4, modified.

Adoption of Regulations. The Department of Finance is authorized to promulgate rules and regulations necessary to implement the requirements of this Act. Source: PL 13-26, § 5, modified.

Enforcement Powers. The Department of Finance shall enforce the provisions of this Act. Source: PL 13-26, § 6, modified.

Penalties. (a) Any person who willfully fails or refuses to issue a receipt as required by this division or who shall make any false or fraudulent receipt with intent to evade any tax, or refuses to permit the director to examine any record of a receipt or receipt bearing, direct…

Corporate Records. (a) A corporation shall keep as permanent records minutes of all meetings of its shareholders and board of directors, a record of all actions taken by the shareholders or board of directors without a meeting, and a record of all actions taken by a committee of …

Inspection of Records by Shareholders. (a) A shareholder of a corporation is entitled to inspect and copy, during regular business hours at the corporation’s principal office, any of the records of the corporation described in 4 CMC § 4681(e) if he gives the corporation written n…

Scope of Inspection Right. (a) A shareholder’s agent or attorney has the same inspection and copying rights as the shareholder he represents. (b) The right to copy records under 4 CMC § 4682 includes, if reasonable, the right to receive copies made by photographic, xerographic, o…

Court-Ordered Inspection. (a) If a corporation does not allow a shareholder who complies with 4 CMC § 4682(a) to inspect and copy any records required by that subsection to be available for inspection, the Commonwealth Superior Court may summarily order inspection and copying of …

Financial Statements for Shareholders. (a) A corporation shall furnish its shareholders annual financial statements, which may be consolidated or combined statements of the corporation and one or more of its subsidiaries, as appropriate, that include a balance sheet as of the end…

Other Reports to Shareholders. (a) If a corporation indemnifies or advances expenses to a director under 4 CMC §§ 4492, 4493 or 4495 in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to th…

Annual Report for Registrar of Corporations. (a) Each domestic corporation, and each foreign corporation authorized to transact business in the Commonwealth, shall deliver to the Registrar of Corporations for filing an annual report that sets forth: (1) The name of the corporatio…

Definitions. As used in this chapter: (a) “Creditor” means any person who offers or extends credit creating a debt or to whom a debt is owed, but such term does not include any person to the extent that he receives an assignment or transfer of a debt in default solely for the pur…

Prohibited Debt Collection Practices. (a) A debt collector shall not collect or attempt to collect a debt by means of an illegal threat, coercion or attempt to coerce. The conduct described in each of the following paragraphs is an illegal threat, coercion or attempt to coerce wi…

Application to Existing Domestic Corporations. This part applies to all domestic corporations in existence on its effective date that were incorporated under any general statute of the Commonwealth providing for incorporation of corporations for profit. Source: PL 10-7, § 1 (Bus.…

Application to Qualified Foreign Corporations. A foreign corporation authorized to transact business in the Commonwealth on the effective date of this part is subject to this part but is not required to obtain a new certificate of authority to transact business under this part. S…

Saving Provisions. (a) Except as provided in subsection (b) of this section, the repeal of a provision of this part by this part does not affect: (1) The operation of the provision or any action taken under it before its repeal; (2) Any ratification, right, remedy, privilege, obl…

Severability. If any provision of this part or its application to any person or circumstance is held invalid by a court of competent jurisdiction, the invalidity does not affect other provisions or applications of this part that can be given effect without the invalid provision o…

Repeal. The following regulations and parts of regulations are repealed: Trust Territory Regulations title 37, chapter 1, §§ 1.1-2.8, §§ 2.11-7.2, chapter 2, parts 1 and 2, and chapter 3. Source: PL 10-7, § 1 (Bus. Corp. Reg. § 17.05), modified.

Definitions. (a) “Department” means the Department of Commerce. (b) “Person” means any individual, corporation, partnership, association, business trust, company, joint venture company, or limited liability company. (c) “Recycled product” means all types of scrap metal and exclud…

Duty to Record and Report Purchases. (a) A person operating a recycling business shall maintain, wherever its business is conducted, a complete record of each purchase of recycled product, legibly written in the English language, containing the following information: (1) The prin…

Purchase Transactions. (a) For each recycled product purchase, the recycler shall require proper identification from each seller. “Proper identification” shall mean a government issued photographic identification including, but not limited to, a driver’s license, military identif…

Stolen Goods; Seizure of Goods. (a) If a recycler has reasonable cause to believe that any recycled product being sold to purchaser is lost or stolen property, the recycler shall promptly report the matter to the Department of Public Safety. (b) Where probable cause exist that a …

Prohibited Acts and Practices. It is unlawful for a recycler or any employee thereof to: (a) Knowingly engage in a purchase transaction with: (1) A person who is under the influence of drug or alcohol when such condition is visible or apparent; (2) A person under the age of 18 ye…

Penalties. (a) A person who knowingly or willfully violates or causes a person to violate any provision of this Article shall be guilty of a felony and be subject to punishment as provided under 6 CMC § 1601. (b) When the lawful owner recovers stolen property from a recycler and …

Rule-making. The Department of Commerce shall adopt rules and regulations necessary to implement the provisions of this Article. Source: PL 15-36, § 3 (51307), modified. Commission Comment: The Commission changed the reference to “Chapter” to “Article” in the above section pursua…

Waiting Period. No recycled product as defined in Section 51401(c) and (e) shall be removed from the Commonwealth before forty-five days after the date of purchase by the recycler, unless cleared by Department of Public Safety (DPS) and the Division of Customs. The Department of …

Tour company vehicles registration with the Department of Commerce. (a) All tour companies doing business within the Commonwealth of the Northern Mariana Islands are hereby required to register each vehicle belonging to the tour company with the Department of Commerce and be issu…

Definitions. Unless the context otherwise requires, the words and terms defined in this chapter shall have the following meanings: (a) Commonwealth. “Commonwealth” means Commonwealth of the Northern Mariana Islands. (b) Court. “Court” means the Commonwealth of the Northern Marian…

Lien for Work and Material Furnished: Notice; Sale; Application of Proceeds; Lienholder may Waive Lien and Sue for Amount Due. (a) Every person engaged in performing work upon any watch, clock or jewelry, major appliance, radio, electronic equipment, musical instrument, furniture…

Lien upon Garments, Clothing, Wearing Apparel or Household Goods for Amount of Account Due; Lien to Include Value or Agreed Price of Materials Furnished. Every person engaged in cleaning, pressing, glazing or washing garments, clothing, wearing apparel or household goods for a pr…

Liens for Work Done and for Storage by Agreement; Exemption of Warehousemen. Every person, firm or corporation engaged in cleaning, pressing, glazing or washing garments, clothing, wearing apparel or household goods which are placed in storage by agreement shall have a lien upon …

Sales by Lienholders After Notice. If any account for work done or materials furnished remains unpaid for 90 days or more after completion of the work, or if the articles are placed in storage, and the charges for storage and for work done and materials furnished remain unpaid fo…

Service or Posting of Notice; Disposition of Proceeds of Sale. The notice may be served by registered or certified mail, with return receipt requested, directed to the owner’s last known address, or, if the owner or his address is unknown, it may be posted in a prominent place in…

Waiver of Lien; Action Upon Amount. Nothing contained in this article, shall be construed as preventing the lienholder from waiving the lien herein provided for, and suing upon the amount if he elects to do so. Source: PL 15-117, § 2(51407).

Notices to be Posted in Business Establishments. The following notices shall be posted in the business establishments of each person engaged in cleaning, pressing, glazing or washing garments, clothing, wearing apparel or household goods, and wishing to take advantage of this art…

Definitions. Unless the context otherwise requires, the words and terms defined in this article shall have the following meanings: (a) Bureau. “Bureau” means the Bureau of Motor Vehicles. (b) Heavy equipment vehicle. “Heavy equipment vehicle” means any motor vehicle weighing over…

Bureau of Motor Vehicles: Adoption of Regulations to Ensure Compliance with Laws Relating to Processing of Liens. The Bureau of Motor Vehicles may adopt such regulations as it deems necessary to ensure compliance with all applicable laws relating to the processing of liens for st…

Lien for Labor, Materials, Storage or Services; Detention of Vehicle, Trailer, Equipment or Parts. (a) A person engaged in the business of: (1) Buying or selling vehicles; or (2) Keeping a garage or place for the storage, maintenance, keeping or repair of motor vehicles, heavy eq…

Notice. (a) Except as otherwise provided in subsection (b), the notice of a lien must be given by delivery in person or by registered or certified letter addressed to the last known place of business or abode of: (1) The legal owner and registered owner of the property. (2) Each …