---
kind: "section"
citation: "25 C.F.R. § 215.16"
title: "25"
number: "215.16"
heading: "Requirements of corporate lessees."
url: "https://uscodex.org/cfr/25/215.16"
---

# §215.16. Requirements of corporate lessees.

- (a) When the lessee is a corporation, its first application must be accompanied by a sworn statement of its proper officers showing:
  - (1) The total number of shares of the capital stock actually issued and, specifically, the amount of cash paid into the treasury on each share sold; or, if paid in property, state kind, quantity, and value of the same paid per share.
  - (2) **Of the stock sold how much per share remains unpaid and subject to assessment.**
  - (3) **How much cash the company has in its treasury and elsewhere and from what source it was received.**
  - (4) **What property, exclusive of cash, is owned by the company and its value.**
  - (5) **What the total indebtedness of the company is, and, specifically, the nature of its obligations.**
- (b) Subsequent applications of the corporation should show briefly the aggregate amounts of assets and liabilities.

## Notes

### Authority

Authority: Sec. 26, 41 Stat. 1248; 50 Stat. 68.

### Source

Source: 22 FR 10608, Dec. 24, 1957, unless otherwise noted. Redesignated at 47 FR 13327, Mar. 30, 1982.