DRAFT CSC, Title 16.  Business Organizations & Regulation
 
CHAPTER 2
Registrar of Corporations

1051.  Office created; duties.
1052.  Authority to promulgate rules and regulations.
1053.  Power to convene corporate meeting.
1054.  Power to order production of records.

      1051.  Office created; duties.
     There shall be in the office of the Attorney General a registrar of corporations appointed by the Governor High Commissioner, who shall issue, receive, and hold as custodian all certificates, papers, statements, or other records of documents required by the provisions of this Chapter title or rules or regulations promulgated hereunder, to be distributed by or filed with the government of the State of Chuuk Trust Territory and shall perform such other duties as may from time to time be assigned to him by the Governor High commissioner or the Attorney General.

Source:  TT Code 1980, 37 TTC 51, modified.

      1052.  Authority to promulgate rules and regulations.
     The registrar of corporations, with the approval of the Attorney General and the Governor High Commissioner, shall have the power to prescribe such rules and regulations as are deemed advisable to administer and carry into effect the provisions of this Chapter title.  Such rules and regulations shall have the force and effect of law.  The registrar of corporations shall file a copy of such rules and regulations with each the clerk of courts of the Chuuk State Supreme Court.

Source:  TT Code 1980, 37 TTC 52, modified.

      1053.  Power to convene corporate meeting.
     The registrar of corporations may, when deemed by him to be in the public interest, convene a special meeting of the members, board of directors, or officers of any corporation organized or existing under the provisions of this Chapter, by giving notice, not less than ten days prior to the date of such meeting, to the members, directors, or officers, as the case might be.  Such notice shall state the purpose of the meeting and the subject, or subjects to be discussed.

Source:  TT Code 1980, 37 TTC 53, modified.

      1054.  Power to order production of records.
     In connection with the duties prescribed in this Chapter the registrar of corporations is authorized and empowered to order the production of books of account, papers, and documents of any corporation or company authorized to do business within the State of Chuuk Trust Territory.  Refusal, without a showing of good cause, to produce books of account, papers, and documents within 30 thirty days after an order for the production thereof shall be a misdemeanor punishable by a maximum fine of fifty dollars, or, when the order is directed to an individual, imprisonment of such individual for a period not to exceed 90 ninety days, or both.

Source:  TT Code 1980, 37 TTC 54, modified.