StacksVerified U.S. regulatory reference

46 CFR §387.5

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Before any assignment recommendation is submitted to the Disposal Agency by the Secretary the following conditions shall be met:
  1. (a)The Secretary has received and approved an application for the property.
  2. (b)The Applicant is able, willing, and authorized to assume immediate possession of the property and pay administrative expenses incidental to the conveyance (application preparation, documentation, legal and land transfer costs).
  3. (c)The Secretary, after consultation with the Secretary of Labor, has determined that the property to be conveyed is located in an area of serious economic disruption.
  4. (d)The Secretary, after consultation with the Secretary of Commerce, approves the PFRP as part of a necessary economic development program.
  5. (e)The Secretary determines that the application complies with the provisions of the National Environmental Policy Act of 1969 as prepared by the Disposal Agency.