U.S Code last checked for updates: Nov 22, 2024
All TitlesTitle 25Chapter 24
§ 2220.
Owner-managed interests
(a)
Purpose
(b)
Mineral interests
(c)
Owner management
(1)
In general
(2)
Rule of construction
(d)
Approval of applications for owner management
(1)
In general
(2)
Commencement of owner-managed status
(e)
Validity of leases
No lease of trust or restricted interests in a parcel of land that is owner-managed under this section shall be valid or enforceable against the owners of such interests, or against the land, the interest or the United States, unless such lease—
(1)
is consistent with, and entered into in accordance with, the requirements of this section; or
(2)
has been approved by the Secretary in accordance with other Federal laws applicable to the leasing of trust or restricted land.
(f)
Lease revenues
(g)
Jurisdiction
(1)
Jurisdiction unaffected by status
(2)
Persons using land
(h)
Continuation of owner-managed status; revocation
(1)
In general
(2)
Revocation
(3)
Effect of revocation
(i)
Defined terms
(1)
For purposes of subsection (d)(1), the term “qualified applicant” means—
(A)
a person over the age of 18 who owns a trust or restricted interest in a parcel of land; and
(B)
the parent or legal guardian of a minor or incompetent person who owns a trust or restricted interest in a parcel of land.
(2)
For purposes of this section, the term “owner-managed status” means, with respect to a trust or restricted interest, that—
(A)
the interest is a trust or restricted interest in a parcel of land for which applications covering all trust or restricted interests in such parcel have been submitted to and approved by the Secretary pursuant to subsection (d);
(B)
the interest may be leased without approval of the Secretary pursuant to, and in a manner that is consistent with, the requirements of this section; and
(C)
no revocation has occurred under subsection (h)(2).
(j)
Secretarial approval of other transactions
(k)
Effect of section
(Pub. L. 97–459, title II, § 221, as added Pub. L. 108–374, § 5, Oct. 27, 2004, 118 Stat. 1795; amended Pub. L. 110–453, title II, § 207(e), Dec. 2, 2008, 122 Stat. 5033.)
cite as: 25 USC 2220
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