11.1609 Amendment of certificate.

Cite as [A.S.C.A. 11.1609]

(a) If, after a tax exemption certificate has been issued, the grantee engages in any business in American Samoa not enumerated in the certificate, and one new business accounts for more than 5% of the gross sales receipts of the grantee in any year, the grantee shall promptly apply for appropriate amendment of the certificate.

(b) An amended certificate shall be issued, which may exclude from or extend to the new business some or all of the tax exemption initially granted. The amended certificate shall be effective as of the beginning of the year in which the new business accounted for more than 5% of the gross sales receipts.

(c) A failure to apply for an amended certificate in accordance with the provisions of this section may be deemed substantial non-performance of a condition of the tax exemption certificate.

History: 1962, PL 7-32; amd 1963, PL 8-4.