§ 5916. Classification
TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5916. Classification. The review committee may classify an alien who owns an interest in a foreign corporation that incorporates in the Commonwealth as an alien investor if the alien satisfactorily establishes his or her ownership interest in the foreign corporation and meets the requisite criteria and standards of the commerce certificate applied for. Source: PL 10-44, § 7 (“Part II - Foreign Investments” regulations (Com- monwealth Register, Vol. 17, No. 01, January 15, 1995) § 801, modified); PL 17-1 § 6(D)(2) (March 22, 2010).* Commission Comment: *PL 17-1 contained the following section regard- ing the effective date of the law: Section 12. Effective date. This Act shall take effect upon its approval by the Governor or becoming law without such approval and shall be ret- roactive to November 28, 2009 except as otherwise specifically provided herein.
Source: CNMI Law Revision Commission