) The Commission is authorized to lease to native Chamorros the right to the use and occupancy of a tract or tracts of Chamorro homelands within the following acreage limits per each lessee:
(1) not less than one quarter (0.25) acre, nor more than one half (0.50) acre for subsistence agricultural or aquaculture farming;
(2) not less than one half (0.50) acre, nor more than twenty (20) acres for commercial agricultural or aquaculture use;
(3) not less than one (1) acre, nor more than twenty
(20) acres for grazing use; and
(4) not more than one (1) acre for any class of land to be used as a residential lot.
(b) The title to lands so leased shall remain in the territory. Applications for tracts shall be made to and granted by the Commission under such regulations, not in conflict with any provision of this Chapter, as the Commission may prescribe. The Commission shall, whenever tracts are available, enter into such a lease with any applicant who, in the opinion of the Commission, is qualified to perform the conditions of such lease.
(c) The Commission is authorized to grant licenses for terms of not to exceed twenty-one (21) years in each case, to public utility companies, or corporations as telephone lines, electric power and light lines, gas mains, and the like. The Commission is also authorized to grant licenses for lots within a village in which lands are leased under the provisions of this section, to:

(1) churches, hospitals, public schools, post offices, and other improvements for public purposes;(2) theaters, garages, service stations, markets, stores, and other mercantile establishments (all of which shall be owned by lessees of the Commission or by organizations formed and controlled by said lessees).
(d) Upon direction by statute from the Legislature, the Commission shall release to the department any unleased available land designated for a public purpose. Such land will no longer be considered to be Chamorro Homelands.
(e) The Commission shall require two (2) appraisals of any commercial property to be leased or any license to be issued as authorized by this Section. Appraisals shall be paid by the potential lessor or licensee, and at least one (1) appraiser shall be chosen by the Commission.

(f) Nothing herein shall be construed to authorize the commercial lease or the license of Chamorro Land Trust properties prior to the promulgation of rules and regulations, pursuant to the Administrative Adjudication Act or adoption by I Liheslatura (the Legislature), to govern commercial leases and licenses.

(g) The Chamorro Land Trust Commission may also permit commercial leases to be subleased or assigned under the following provisions, and if the sublease or assignment would be beneficial for the Trust:

(1) Commercial Sublease.

(A) The master lessee of the commercial lease shall be permitted to sublease rooms or space within their established building structure for complementary commercial use as detailed in the master lease agreement or subject to the prior written approval of the CLTC.

(B) This provision does not permit the subleasing of the leased land. Said commercial sublease shall be allowed only with the prior written consent of CLTC, and shall not affect any duty or obligation of the master lessee to CLTC.

(2) Assignment of Commercial Lease.
(A) A commercial lease may be assigned if the provisions of the original lease, and the duties or obligations of the original lessee, do not change. Assignment shall not be permitted if the lease or license was executed less than five (5) years prior; otherwise, the lease or license shall be put through the competitive solicitation process.

(B) Said assignment of commercial lease shall be allowed only with the prior written consent of CLTC.

SOURCE: GC § 13506 repealed and reenacted by P.L. 12-226. Subsection (d) amended by P.L. 22-18:4. Subsection (a) repealed and reenacted by P.L. 24-318:2; amended by P.L. 27-133:2 (Dec. 30, 2004). Subsections (e) and (f) added by P.L. 31-044:1 (May 17, 2011). Subsection (g) added by P.L. 33-095:3 (Nov. 9, 2015).