§ 162.575. What are the consent requirements for an assignment of a WSR lease?
210 words·~1 min read·
/us/cfr/t25/s§ 162.575·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Unless the lease provides otherwise, the lessee must notify all Indian landowners of the proposed assignment.
(b)The Indian landowners, or their representatives under § 162.013, must consent to an assignment in the same percentages and manner as a new WSR lease under § 162.012, unless the lease:
(1)Provides that individual Indian landowners are deemed to have consented where they do not object in writing to the assignment within a specified period of time following the landowners' receipt of the assignment and the lease meets the requirements of paragraph
(c)of this section;
(2)Authorizes one or more representatives to consent to an assignment on behalf of all Indian landowners; or
(3)Designates us as the Indian landowners' representative for the purposes of consenting to an assignment.
(c)If the lease provides for deemed consent under paragraph (b)(1) of this section, it must require the parties to submit to us:
(1)A copy of the executed assignment or other documentation of any Indian landowners' actual consent;
(2)Proof of mailing of the assignment to any Indian landowners who are deemed to have consented; and
(3)Any other pertinent information for us to review.
(d)The lessee must obtain the consent of the holders of any bonds or mortgages.