| Bemerkungen |
Siehe Vorlage 1.
Kapitel XII Art. 5 und 6:
Section 5. Corporation. A corporation shall be considered to be a person of
Northern Marianas descent so long as it is incorporated in the Commonwealth, has
its principal place of business in the Commonwealth, has directors one hundred
percent of whom are persons of Northern Marianas descent and has voting shares
(i.e. common or preferred) one hundred percent of which are actually owned by
persons of Northern Marianas descent as defined in Section 4. Minors, as defined
by applicable laws of the Commonwealth, may not be eligible to become directors
of a corporation. No trusts or voting by proxy by persons not of Northern
Marianas descent may be permitted. Beneficial title shall not be severed from
legal title.
Section 6. Enforcement. Any transaction made in violation of Section 1 shall be
void ab initio. Whenever a corporation ceases to be qualified under Section 5,
a permanent or long-term interest in land in the Commonwealth acquired by the
Corporation after the effective date of this amendment shall be immediately
forfeited without right of redemption to the government of the Commonwealth of
the Northern Mariana Islands. The Registrar of Corporation shall issue
regulations to ensure compliance and the legislature may enact enforcement
laws and procedures."
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