§ 695. — Tribal property.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC695]
TITLE 25--INDIANS
CHAPTER 14--MISCELLANEOUS
SUBCHAPTER XXX--WESTERN OREGON INDIANS: TERMINATION OF FEDERAL
SUPERVISION
Sec. 695. Tribal property
(a) Procedure for transfer
Upon request of a tribe, the Secretary is authorized within two
years from August 13, 1954, to transfer to a corporation or other legal
entity organized by the tribe in a form satisfactory to the Secretary
title to all or any part of the tribal property, real and personal, or
to transfer to one or more trustees designated by the tribe and approved
by the Secretary, title to all or any part of such property to be held
in trust for management or liquidation purposes under such terms and
conditions as may be specified by the tribe and approved by the
Secretary, or to sell all or any part of such property and make a pro
rata distribution of the proceeds of sale among the members of the tribe
after deducting, in his discretion, reasonable costs of sale and
distribution.
(b) Property not transferred in accordance with recognized procedure;
election to retain property
Title to any tribal property that is not transferred in accordance
with the provisions of subsection (a) of this section shall be
transferred by the Secretary to one or more trustees designated by him
for the liquidation and distribution of assets among the members of the
tribe under such terms and conditions as the Secretary may prescribe:
Provided, That the trust agreement shall provide for the termination of
the trust not more than three years from the date of such transfer
unless the term of the trust is extended by order of a judge of a court
of record designated in the trust agreement: Provided further, That the
trust agreement shall provide that at any time before the sale of tribal
property by the trustees the tribe may notify the trustees that it
elects to retain such property and to transfer title thereto to a
corporation, other legal entity, or trustee in accordance with the
provisions of subsection (a) of this section, and that the trustees
shall transfer title to such property in accordance with the notice from
the tribe if it is approved by the Secretary.
(c) Compensation of agents or attorneys
The Secretary shall not approve any form of organization pursuant to
subsection (a) of this section that provides for the transfer of stock
or an undivided share in corporate assets as compensation for the
services of agents or attorneys unless such transfer is based upon an
appraisal of tribal assets that is satisfactory to the Secretary.
(d) Selection of trustees; approval by Secretary
When approving or disapproving the selection of trustees in
accordance with the provisions of subsection (a) of this section, and
when designating trustees pursuant to subsection (b) of this section,
the Secretary shall give due regard to the laws of the State of Oregon
that relate to the selection of trustees.
(Aug. 13, 1954, ch. 733, Sec. 5, 68 Stat. 725.)
Section Referred to in Other Sections
This section is referred to in section 694 of this title.
