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Marshall Islands Consolidated Legislation |
10 MIRC Ch. 12
MARSHALL ISLANDS REVISED CODE 2004
TITLE 10 - PLANNING AND ECONOMIC DEVELOPMENT
CHAPTER 12.
INVESTMENT INCENTIVE AGREEMENT ACT
ARRANGEMENT OF SECTIONS
Section
§1201. Short title.
§1202.
Interpretation.
§1203. Implementation of the Investment Incentive
Agreement.
-----------------------------------
An Act to give the Investment Incentive Agreement the force of
law.
[Section numbering style modified to conform to new Code format
[Rev2003]
Commencement: October 24, 1988
Source: P.L. 1988-23
§1201. Short title.
This Act may be cited as the
'Investment Incentive Agreement (Implementation) Act 1988'. [P.L. 1988-23,
§1.]
§1202. Interpretation.
As used in this
Act, 'Investment Incentive Agreement' means the agreement set out in the
Diplomatic Note dated January 20, 1988, (numbered
3-88) from United States
Representative Samuel B. Thomsen to the Minister of Foreign Affairs Tom D.
Kijiner regarding the extension
of programs of the United States Overseas
Private Investment Corporation to United States businesses which invest in the
Marshall
Islands; and intended to promote the economic development and
productive capacities of the host country and include loans and loan
guarantees,
feasibility studies, and insurance against political risks. [P.L. 1988-23,
§2.]
§1203. Implementation of the Investment Incentive
Agreement.
(1) The Investment Incentive Agreement shall have the
force of law as if enacted by the Nitijela.
(2) The Investment Incentive
Agreement shall be construed and applied in a manner consistent with the
provisions of the Constitution
of the Republic of the Marshall Islands. [P.L.
1988-23, §3.]
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