§ 503. — Organization of tribes or bands; constitution; charter; right to participate in revolving credit fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC503]
TITLE 25--INDIANS
CHAPTER 14--MISCELLANEOUS
SUBCHAPTER VIII--INDIANS IN OKLAHOMA: PROMOTION OF WELFARE
Sec. 503. Organization of tribes or bands; constitution;
charter; right to participate in revolving credit fund
Any recognized tribe or band of Indians residing in Oklahoma shall
have the right to organize for its common welfare and to adopt a
constitution and bylaws, under such rules and regulations as the
Secretary of the Interior may prescribe. The Secretary of the Interior
may issue to any such organized group a charter of incorporation, which
shall become operative when ratified by a majority vote of the adult
members of the organization voting: Provided, however, That such
election shall be void unless the total vote cast be at least 30 per
centum of those entitled to vote. Such charter may convey to the
incorporated group, in addition to any powers which may properly be
vested in a body corporate under the laws of the State of Oklahoma, the
right to participate in the revolving credit fund and to enjoy any other
rights or privileges secured to an organized Indian tribe under the Act
of June 18, 1934 (48 Stat. 984) [25 U.S.C. 461 et seq.]: Provided, That
the corporate funds of any such chartered group may be deposited in any
national bank within the State of Oklahoma or otherwise invested,
utilized, or disbursed in accordance with the terms of the corporate
charter.
(June 26, 1936, ch. 831, Sec. 3, 49 Stat. 1967.)
References in Text
Act of June 18, 1934, referred to in text, popularly known as the
Indian Reorganization Act, is classified generally to subchapter V
(Sec. 461 et seq.) of this chapter. For complete classification of this
Act to the Code, see Short Title note set out under section 461 of this
title and Tables.
Section Referred to in Other Sections
This section is referred to in sections 861a, 1041d of this title.
