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Current as of October 02, 2022 | Updated by FindLaw Staff
(a) Upon expiration, termination, or cancellation of the lease, the lessee may ask BIA in writing to release the performance bond or alternative form of security.
(b) Upon receiving a request under paragraph (a) of this section, BIA will:
(1) Confirm with the tribe, for tribal land or, where feasible, with the Indian landowners for individually owned Indian land, that the lessee has complied with all lease obligations; and
(2) Release the performance bond or alternative form of security to the lessee, unless we determine that the bond or security must be redeemed to fulfill the contractual obligations.
Cite this article: FindLaw.com - Code of Federal Regulations Title 25. Indians § 25.162.436 What is the release process for a performance bond or alternative form of security under a business lease? - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-25-indians/cfr-sect-25-162-436/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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