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41.0804 Revocation of foreign investor entry permits.

Cite as [A.S.C.A. § 41.0804]

(a) Upon written notification from the director that the certificate of foreign investment has been revoked or the foreign investment enterprise has ceased business of has been transferred to new owners who will seek foreign investment entry permits, the Attorney General may revoke the foreign investor entry permits of the holder, the spouse and their dependents, provided, however, that the revocation shall not take effect until six months following the date of the business transfer or revocation of the certificate of foreign investment.

(b) Upon written notice from the Director of the business transfer or revocation of a certificate of foreign investment, the Attorney General shall give written notice of revocation of the foreign investor entry permits to the holders of the certificate of foreign investment and all participants therein.

History: 1988, PL 20-56; 1988, PL 20-80.