§51.86. What encumbrances require the approval of the Director?
36 C.F.R. § 51.86
The concessioner may not encumber, pledge, mortgage or otherwise provide as a security interest for any purpose (such transactions collectively referred to as “encumbrances” for purposes of this part), without the prior written approval of the Director, any of the following:
Any concession contract;
Any rights to operate under or manage performance under a concession contract as a subconcessioner or otherwise;
Any controlling interest in a concessioner or concession contract; or
Any leasehold surrender interest or possessory interest obtained under a concession contract.
Notes, amendments, and revision history
Authority
Authority: 54 U.S.C. 101901-101926 and title IV of the National Parks Omnibus Management Act of 1998 (Pub. L. 105-391).
Source
Source: 65 FR 20668, Apr. 17, 2000, unless otherwise noted.