§ 141.5. Reservation business license required.
249 words·~1 min read·
/us/cfr/t25/s§ 141.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)No person may own or lease a reservation business without a license issued under the provisions of this subpart.
(b)The applicant shall apply in writing on a form provided by the Commissioner setting forth the following:
(1)The full name and residence of the applicant.
(2)Three
(3)responsible references.
(3)The firm name and the name of each member of the board of directors if the applicant is a firm.
(4)Satisfactory evidence as to the character, experience and business ability of the applicant and the employees of the applicant.
(5)Satisfactory evidence of the general fitness of the applicant and employees of the applicant to reside on the Indian reservation.
(c)Upon the request of the Commissioner, the applicant shall furnish the following:
(1)The capital invested or to be invested and, of this, the amount of capital owned and the amount borrowed or to be borrowed.
(2)The name of the lender of any borrowed capital, the date due, the rate of interest to be paid, and the names of any endorsers and security.
(3)A copy of any contract or trade agreement whether oral or written with creditors or financing individuals or institutions, including any stipulations whereby financing fees are to be paid.
(d)Information that if released might adversely affect the competitive position of the applicant shall remain confidential. \[40 FR 39837, Aug. 29, 1975, as amended at 41 FR 3288, Jan. 22, 1976. Redesignated at 47 FR 13327, Mar. 30, 1982\]