§ 225.29. Corporate qualifications and requests for information.
171 words·~1 min read·
/us/cfr/t25/s§ 225.29·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The signing in a representative capacity of minerals agreements or assignments, bonds, or other instruments required by a minerals agreement or these regulations, constitutes certification that the individual signing (except a surety agent) is authorized to act in such a capacity. An agent for a surety shall furnish a power of attorney.
(b)A prospective corporate operator proposing to acquire an interest in a minerals agreement shall have on file with the Superintendent a statement showing:
(1)The State(s) in which the corporation is incorporated, and a notarized statement that the corporation is authorized to hold such interests in the State where the land described in the minerals agreement is situated; and
(2)A notarized statement that it has power to conduct all business and operations as described in the minerals agreement.
(c)The Secretary may, either before or after the approval of a minerals agreement, assignment, or bond, call for any reasonable additional information necessary to carry out the regulations in this part, or other applicable laws and regulations.