25 C.F.R. · Indians
25 C.F.R. § 162.456

How will BIA decide whether to approve a sublease of a business lease?

Title 25 C.F.R. ● ACTIVE Primary Source
Regulatory Text

25 C.F.R. § 162.456 — How will BIA decide whether to approve a sublease of a business lease?

§ 162.456 How will BIA decide whether to approve a sublease of a business lease? (a) We may disapprove a sublease of a business lease only if at least one of the following is true: (1) The Indian landowners have not consented and their consent is required; (2) The lessee's mortgagees or sureties have not consented; (3) The lessee is in violation of the lease; (4) The lessee will not remain liable under the lease; (5) The requirements of this subpart have not been met; or (6) We find a compelling reason to withhold our approval in order to protect the best interests of the Indian landowners. (b) In making the finding required by paragraph (a)(6) of this section, we may consider whether the value of any part of the leased premises not covered by the sublease would be adversely affected. (c) We will defer, to the maximum extent possible, to the Indian landowners' determination that the sublease is in their best interest. (d) We may not unreasonably withhold approval of a sublease. Leasehold Mortgages

Source: ecfr.gov · govinfo.gov — public domain Official Source ↗
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The regulatory text of 25 C.F.R. § 162.456 is reproduced from the official Code of Federal Regulations as published by the Office of the Federal Register and the National Archives and Records Administration.
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