Chapter 5 of Title 41 of the Pohnpei State Code - Pohnpei Development Leasehold Act of 1996.
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LEX-FAOC079548
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This Act provides rules relative to entering into or modification of a development lease, i.e. a commercial lease or combination of interconnected commercial leases that may contain an expanded term not to exceed 55 years. The Act provides also for control of (modification) of lease agreements and related procedures by the Director of the Department of Land and Natural Resources. The Act prescribes, among other things, contents and conditions of an agreement and procedures for the notification of entering into or modification of a development lease.
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