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25 U.S.C. § 4022 — Voluntary withdrawal from trust funds program

submitted 32 years ago by Pub. L. 103-412 to r/title-25-INDIANS · 211 words · no verdicts yet

in plain englishAI-generated · not legal advice

An Indian tribe may submit a plan to withdraw some or all trust funds managed for it by the United States. The Secretary must approve a qualifying plan within 90 days, and United States trust responsibility for withdrawn funds then ends except as provided in section 4027.

(a) In general An Indian tribe may, under this section, submit a plan to withdraw some or all funds held in trust for such tribe by the United States and managed by the Secretary through the Bureau. (b) Approval of plan The Secretary must approve such plan within 90 days of receipt and when approving the plan, the Secretary must obtain the advice of the Special Trustee or prior to the appointment of such Special Trustee, the Director of the Office of Trust Fund Management within the Bureau. Such plan must meet the following conditions: (1) Such plan has been approved by the appropriate Indian tribe and is accompanied by a resolution from the tribal governing body approving the plan. (2) The Secretary determines such plan to be reasonable after considering all appropriate factors, including (but not limited to) the following: (A) The capability and experience of the individuals or institutions that will be managing the trust funds. (B) The protection against substantial loss of principal. (c) Dissolution of trust responsibility Beginning on the date funds are withdrawn under this section, any trust responsibility or liability of the United States about such funds must cease except as provided for in section 4027 of this title.

the actual law source: uscode.house.gov ↗public domain
(a) In general

An Indian tribe may, in accordance with this section, submit a plan to withdraw some or all funds held in trust for such tribe by the United States and managed by the Secretary through the Bureau.

(b) Approval of plan

The Secretary shall approve such plan within 90 days of receipt and when approving the plan, the Secretary shall obtain the advice of the Special Trustee or prior to the appointment of such Special Trustee, the Director of the Office of Trust Fund Management within the Bureau. Such plan shall meet the following conditions:

(1)

Such plan has been approved by the appropriate Indian tribe and is accompanied by a resolution from the tribal governing body approving the plan.

(2)

The Secretary determines such plan to be reasonable after considering all appropriate factors, including (but not limited to) the following:

(A)

The capability and experience of the individuals or institutions that will be managing the trust funds.

(B)

The protection against substantial loss of principal.

(c) Dissolution of trust responsibility

Beginning on the date funds are withdrawn pursuant to this section, any trust responsibility or liability of the United States with respect to such funds shall cease except as provided for in section 4027 of this title.

Source credit: (Pub. L. 103–412, title II, § 202, Oct. 25, 1994, 108 Stat. 4242.)

history & why it existsrecord from the source credit
  • 1994Enacted · Pub. L. 103-412 · 108 Stat. 4242

A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-412 on 1994-10-25.

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