On September 8 then Acting Governor Pulumataala Ae Ae Jr issued an executive order giving authority to the Secretary of American Samoa to issue certificates of good standing for corporations, non-profit corporations and government agencies.
But a new executive order issued by Governor Pulaalii Nikolao Pula Monday amends that earlier order and designates the Department of Treasury as the government entity that will issue certificates of good standing.
The new executive order says amendment of the earlier order is necessary to allow time to establish a consistent regulatory framework to ensure uniform practices and compliance with territorial laws.
The authority that was given to the Secretary of American Samoa to issue certificates of good standing for all corporations, limited liability companies, partnerships, and other business entities organized under the laws of the territory or authorized to transact business in the territory, has been removed.
The Treasurer is to develop and implement administrative procedures and or emergency rules governing the application for and issuance of certificates of good standing.
The Treasurer is also to establish reasonable fees for such certificates, which fees shall be deposited into the General Fund.
The new executive order also tasks the Treasurer with developing legislation and or regulations to amend and or revise existing laws to reconcile any inconsistences or fill any gaps in the law to resolve the lack of clear authority regarding the issuance of certificates of good standing .
he issuance of certificates of good standing for limited liability corporations remains with the Office of Financial Institutions.
