The Senate on Tuesday unanimously passed on first and final reading a House of Representatives bill that will increase the fees of the Office of the Registrar of Corporations under the Department of Commerce.
All eight senators present voted for the passage of House Bill 21-19. Sen. Justo Quitugua was absent but was excused from the session.
Rep. Joseph Leepan T. Guerrero (R-Saipan) introduced the bill in February 2019. Similar legislation was introduced during the 15th, 16th, and 20th Legislature, but no actions were taken.
Guerrero said the fees have remained stagnant since the enactment of Executive Order 97-03 in 1998. Since then, there has been an immense influx of businesses into the Commonwealth, he added.
The proposed new fees are $150 for Articles of Organization; $150 for Articles of Incorporation; $250 for application for reinstatement following administrative dissolution; $250, application for certificate of authority for foreign corporation; $50, application for amended certificate of authority, among other several fees.