Lessor's sale, assignment, or transfer of his right to receive payments for his obligation to perform under the lease may be provided for in the terms and conditions of the lease, but lease payments to the new lessor shall be approved by the commission only if and when the transfer is sufficiently documented in the records of the commission. The Lessor shall comply with the rules and procedures of the commission to affect the change of lessor in order that lease payments can be made.

Source Note:The provisions of this §115.8 adopted to be effective November 21, 1999, 24 TexReg 10034.