Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 8539 Net Electricity Producers; Excess Electricity Credits and Credit Carry-Over
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8539. Net Electricity Producers; Excess Electricity Credits and Credit Carry Over. (a) The intent of this article is that, for the 12-month billing period, the eligible customer-generator shall be fully compensated for his/her c…
4 CMC § 8540 Net Electricity Consumption or Production Information
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8540. Net Electricity Consumption or Production Information. The electric utility shall provide every eligible customer-generator and independent power producer with net electricity consumption or production information with eac…
4 CMC § 8541 Termination of Eligible Customer-Generators
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8541. Termination of Eligible Customer-Generators. If an eligible customer-generator relationship with the electric utility terminates, the electric utility shall reconcile for the 12-month period the eligible customer-generator…
4 CMC § 8542 Safety and Performance Standards
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8542. Safety and Performance Standards. (a) A renewable energy system used by an eligible customer-generator shall meet all applicable safety and performance standards established by the National Electrical Code, the Institute o…
4 CMC § 8543 Business and Tax Effects
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8543. Business and Tax Effects. (a) Business effects. (1) No business license shall be required solely by reason of the treatment of customer-generated electricity under this chapter except as provided in paragraph (2) of this s…
4 CMC § 8551 Energy Efficient Products and Services
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8551. Energy Efficient Products and Services. (a) The Department of Finance’s Division of Procurement and Supply shall require all government agencies to select, where life-cycle cost-effective, products given the ENERGY STAR ra…
4 CMC § 8552 Energy Efficient Purchases
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8552. Energy Efficient Purchases. (a) If an agency determines that initial costs render an otherwise cost-effective energy efficient purchase unaffordable, it shall request that the Department of Finance, Division of Procurement…
4 CMC § 8553 Environment Management System Purchasing
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8553. Environmental Management System Purchasing. The Department of Finance, Division of Procurement and Supply, shall deliver to the Governor by December 31, 2006, a recommended Environmental Management Purchasing System (“EMS”…
4 CMC § 8561 Policy to Encourage Energy Efficiency
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8561. Policy to Encourage Energy Efficiency. It shall be the policy of the Commonwealth to use energy as efficiently and cost-effectively, taking into account short-run and the long-term costs and benefits which can be quantifie…
4 CMC § 8562 Government Agencies to Employ Energy Efficiency
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8562. Government Agencies to Employ Energy Efficiency. All Commonwealth agencies shall use energy cost-effectively. All Commonwealth contracts must explicitly require the installation of and the use of lifecycle, cost-effective …
4 CMC § 8563 CUC to Promote Energy Efficiency
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8563. CUC to Promote Energy Efficiency. The CUC, or its successor in interest, shall assist and promote its customers’ use of energy efficiency, energy efficient building techniques and energy saving devices. CUC shall report to…
4 CMC § 8564 CUC Energy Service Company
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8564. CUC Energy Service Company. CUC shall encourage the activities of private sector energy service companies and independent power producers. CUC shall have the power and authority to provide energy service company services t…
4 CMC § 8565 Governmental Support of Private Sector Efforts
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8565. Governmental Support of Private Sector Efforts. The regulator and the government-owned utility shall facilitate the private sector's development of renewable energy projects by supporting the private sector's attainment of…
4 CMC § 8566 Annual Report
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8566. Annual Report. The regulator, with the assistance of each relevant agency and the CUC, or its successor in interest, shall publish in hard copy or electronically a public report annually, beginning in January 2007, which s…
4 CMC § 8571 Policy to Encourage Clean Energy Transportation and Reduce Diesel and Gasoline Engine Emissions
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8571. Policy to Encourage Clean Energy Transportation and Reduce Diesel and Gasoline Engine Emissions. It is the policy of the CNMI to encourage the use of clean-running commercial sector buses, including mini-buses. It is the p…
4 CMC § 8572 CUC to Offer Electric Charging Stations
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8572. CUC to Offer Electric Charging Stations. The CUC, or by contract with an independent power producer, shall offer sufficient electric vehicle charging stations, in at least two locations easily available to users, to power …
4 CMC § 8573 Commercial Buses to Meet Clean Energy Standards. [Reserved.]
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES § 8573. Commercial Buses to Meet Clean Energy Standards. Reserved. Source: PL 15-23, § 2(8673); reenacted without change by PL 15-87 § 2(8673).
4 CMC § 9501 Title
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TITLE 4: ECONOMIC RESOURCES DIVISION 9: LABOR § 9501. Title. This chapter shall be known as the Resident Workers Fair Compensation Act of 1995. Source: PL 9-71, § 1. Commission Comment: PL 9-71 took effect November 16, 1995. According to PL 9-71, § 2: Section 2. Findings. It is t…
4 CMC § 9502 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 9: LABOR § 9502. Definitions. Where they appear in this chapter the following terms have the following meanings: (a) “Nonresident workers” is used in accordance with the meaning established in 3 CMC § 4412. (b) “Resident workers” is used in ac…
4 CMC § 9503 Compensatory Payment
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TITLE 4: ECONOMIC RESOURCES DIVISION 9: LABOR § 9503. Compensatory Payment. All benefits mandated by law to be given to foreign national workers, including, but not limited to subsidized food, housing, local transportation, health insurance, or medical expenses must also be given…
4 CMC § 9504 Regulation
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TITLE 4: ECONOMIC RESOURCES DIVISION 9: LABOR § 9504. Regulation. The Secretary of Labor shall promulgate regulations to implement the provisions of this chapter within 30 days of November 16, 1995. Source: PL 9-71, § 5, modified; PL 17-1 § 6(B) (March 22, 2010).* Commission Comm…
4 CMC § D8C5A1 Article 1. High Performance Building Standards. [Reserved.]
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES Article 1. High Performance Building Standards. (Reserved)
4 CMC § D8C5A4 Article 4. [Reserved.]
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES Article 4. Reserved.
4 CMC § D8C5A8 Article 8. Renewable Energy Technologies; Tax Treatment; Tax Credits. [Reserved.]
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TITLE 4: ECONOMIC RESOURCES DIVISION 8: UTILITIES Article 8. Renewable Energy Technologies; Tax Treatment; Tax Credits. (Reserved)
4 CMC § 10601 MIHA-CEDA Loan Write-off
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH ECONOMIC DEVELOPMENT AUTHORITY § 10601. MIHA-CEDA Loan Write-off. The CEDA shall write-off approximately $6,635,588 of the principal and any and all interest that has accrued and/or will accrue on that portion of the principal…
4 CMC § 10602 CUC-CEDA Loan and Interest Waiver
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH ECONOMIC DEVELOPMENT AUTHORITY § 10602. CUC-CEDA Loan and Interest Waiver. Pursuant to the Memorandum of Agreement between the CEDA and the Commonwealth Utilities Corporation [CUC], CEDA may waive $16,068,750.00 of the princip…
4 CMC § 10603 CEDA-CUC Loan Principal and Interest Write-off
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH ECONOMIC DEVELOPMENT AUTHORITY § 10603. CEDA-CUC Loan Principal and Interest Write-off. The Commonwealth Economic Development Authority (CEDA) is hereby authorized to waive the sum of $45,500,000.00 of the principal amount owe…
4 CMC § 1601 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1601. Definitions. For the purpose of this chapter: (a) A “foreign sales corporation” or “FSC” means a Commonwealth domestic corporation which is: (1) An FSC or small FSC as defined in Section 922 of the United States…
4 CMC § 1602 Tax Exemptions
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1602. Tax Exemptions. (a) In accordance with Section 927(e)(5) of the United States Internal Revenue Code of 1986, as amended, and notwithstanding any other law to the contrary, no tax shall be imposed by the Commonwe…
4 CMC § 1603 FSC License
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1603. FSC License. In order to qualify for the tax exemptions of 4 CMC § 1602(b), an FSC shall first obtain a license from the Secretary of Finance. The FSC license shall be issued upon application by the FSC and paym…
4 CMC § 1604 Informational Returns
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1604. Informational Returns. Even if no tax is due, an FSC shall file an informational tax return with the Chief of the Division of Revenue and Taxation, Department of Finance. The informational tax returns shall be f…
4 CMC § 1605 License Revocation or Cancellation
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1605. License Revocation or Cancellation. (a) So long as a licensed FSC pays its annual license fee and otherwise complies with 4 CMC § 1603, an FSC shall be presumed to be validly licensed. (b) In the event the Secre…
4 CMC § 1606 One Hundred Percent Rebate Offset of Mirror Tax Procedure
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1606. One Hundred Percent Rebate Offset of Mirror Tax Procedure. (a) Rebate Offset. To the extent any foreign trade income, or interest, dividends, royalties and other investment income and carrying charges, received …
4 CMC § 1607 Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1607. Regulations. The secretary or his designee may issue regulations consistent with the purposes of this chapter. Source: PL 9-22, § 1 (§ 1607). Commission Comment: With respect to the reference to the “secretary” …
4 CMC § 4341 Authorized Shares
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4341. Authorized Shares. (a) The articles of incorporation must prescribe the classes of shares and the number of shares of each class that the corporation is authorized to issue. If more than o…
4 CMC § 4342 Terms of Class or Series Determined by Board of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4342. Terms of Class or Series Determined by Board of Directors. (a) If the articles of incorporation so provide, the board of directors may determine, in whole or part, the preferences, limitat…
4 CMC § 4343 Issued and Outstanding Shares
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4343. Issued and Outstanding Shares. (a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding …
4 CMC § 4344 Fractional Shares
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4344. Fractional Shares. (a) A corporation may: (1) Issue fractions of a share or pay in money the value of fractions of a share; (2) Arrange for disposition of fractional shares by the sharehol…
4 CMC § 4351 Subscription for Shares Before Incorporation
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4351. Subscription for Shares Before Incorporation. (a) A subscription for shares entered into before incorporation is irrevocable for six months unless the subscription agreement provides a lon…
4 CMC § 4352 Issuance of Shares
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4352. Issuance of Shares. (a) The powers granted in this section to the board of directors may be reserved to the shareholders by the articles of incorporation. (b) The board of directors may au…
4 CMC § 4353 Liability of Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4353. Liability of Shareholders. (a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration…
4 CMC § 4354 Share Dividends
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4354. Share Dividends. (a) Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation’s shareholders or to the shareholder…
4 CMC § 4355 Share Options
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4355. Share Options. A corporation may issue rights, options, or warrants for the purchase of shares of the corporation. The board of directors shall determine the terms upon which the rights, o…
4 CMC § 4356 Form and Content of Certificates
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4356. Form and Content of Certificates. (a) Shares may but need not be represented by certificates. Unless this part or another statute expressly provides otherwise, the rights and obligations o…
4 CMC § 4357 Shares Without Certificates
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4357. Shares Without Certificates. (a) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issue of some or all of the sha…
4 CMC § 4358 Restriction on Transfer of Shares and Other Securities
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4358. Restriction on Transfer of Shares and Other Securities. (a) The articles of incorporation, bylaws, an agreement among shareholders, or an agreement between shareholders and the corporation…
4 CMC § 4359 Expense of Issue
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4359. Expense of Issue. A corporation may pay the expenses of selling or underwriting its shares, and of organizing or reorganizing the corporation, from the consideration received for shares. S…
4 CMC § 4371 Shareholder's Preemptive Rights
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4371. Shareholder’s Preemptive Rights. (a) The shareholders of a corporation do not have a preemptive right to acquire the corporation’s unissued shares except to the extent the articles of inco…
4 CMC § 4372 Corporation's Acquisition of its Own Shares
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4372. Corporation’s Acquisition of its Own Shares. (a) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares. (b) If the articles of incorpora…
4 CMC § 4381 Distributions to Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4381. Distributions to Shareholders. (a) A board of directors may authorize and the corporation may make distributions to its shareholders subject to restriction by the articles of incorporation…