From the Code of Canon Law;
Can. 934 §1. The Most Holy Eucharist:
1/ must be reserved in the cathedral church or its equivalent, in every parish church, and in a church or oratory connected to the house of a religious institute or society of apostolic life;
2/ can be reserved in the chapel of the bishop and, with the permission of the local ordinary, in other churches, oratories, and chapels.
§2. In sacred places where the Most Holy Eucharist is reserved, there must always be someone responsible for it and, insofar as possible, a priest is to celebrate Mass there at least twice a month.
Can. 935 No one is permitted to keep the Eucharist on one’s person or to carry it around, unless pastoral necessity urges it and the prescripts of the diocesan bishop are observed.
Can. 936 In the house of a religious institute or some other pious house, the Most Holy Eucharist is to be reserved only in the church or principal oratory attached to the house. For a just cause, however, the ordinary can also permit it to be reserved in another oratory of the same house.
Can. 937 Unless there is a grave reason to the contrary, the church in which the Most Holy Eucharist is reserved is to be open to the faithful for at least some hours every day so that they can pray before the Most Blessed Sacrament.
Can. 938 §1. The Most Holy Eucharist is to be reserved habitually in only one tabernacle of a church or oratory.
§2. The tabernacle in which the Most Holy Eucharist is reserved is to be situated in some part of the church or oratory which is distinguished, conspicuous, beautifully decorated, and suitable for prayer.
§3. The tabernacle in which the Most Holy Eucharist is reserved habitually is to be immovable, made of solid and opaque material, and locked in such a way that the danger of profanation is avoided as much as possible.
§4. For a grave cause, it is permitted to reserve the Most Holy Eucharist in some other fit-ting and more secure place, especially at night.
§5. The person responsible for the church or oratory is to take care that the key of the tabernacle in which the Most Holy Eucharist is reserved is safeguarded most diligently.
Can. 939 Consecrated hosts in a quantity sufficient for the needs of the faithful are to be kept in a pyx or small vessel; they are to be renewed frequently and the older hosts consumed properly.
Can. 940 A special lamp which indicates and honors the presence of Christ is to shine continuously before a tabernacle in which the Most Holy Eucharist is reserved.
Can. 941 §1. In churches or oratories where it is permitted to reserve the Most Holy Eucharist, there can be expositions with the pyx or the monstrance; the norms prescribed in the liturgical books are to be observed.
§2. Exposition of the Most Blessed Sacrament is not to be held in the same area of the church or oratory during the celebration of Mass.
Can. 942 It is recommended that in these churches and oratories an annual solemn exposition of the Most Blessed Sacrament be held for an appropriate period of time, even if not continuous, so that the local community more profoundly meditates on and adores the eucharistic mystery. Such an exposition is to be held, however, only if a suitable gathering of the faithful is foreseen and the established norms are observed.
Can. 943 The minister of exposition of the Most Blessed Sacrament and of eucharistic benediction is a priest or deacon; in special circumstances, the minister of exposition and reposition alone without benediction is the acolyte, extraordinary minister of holy communion, or someone else designated by the local ordinary; the prescripts of the diocesan bishop are to be observed.
Can. 944 §1. When it can be done in the judgment of the diocesan bishop, a procession through the public streets is to be held as a public witness of veneration toward the Most Holy Eucharist, especially on the solemnity of the Body and Blood of Christ.
§2. It is for the diocesan bishop to establish regulations which provide for the participation in and the dignity of processions.http://www.vatican.va/archive/ENG1104/__P3C.HTM
A few questions for your friend:
Does he have at least the implied consent of the bishop?
Does a Catholic priest celebrate mass there at least twice a month?
Is this person a reasonably responsible person?
Is this person's chapel open to the the faithful at least some hours every day so that they can pray before the Blessed Sacrament?
Is the Blessed Sacrament reserved in a tabernacle that which is distinguished, conspicuous, beautifully decorated, and suitable for prayer?
Are the consecrated hosts renewed frequently and the older hosts consumed properly?
Is there a special lamp which indicates and honors the presence of Christ which shines continuously before the tabernacle in which the Most Holy Eucharist is reserved?
Is there an annual solemn exposition of the Most Blessed Sacrament?