§ 1628. — Assignments by Regional Corporations of rights to receive payments from 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: 43USC1628]
TITLE 43--PUBLIC LANDS
CHAPTER 33--ALASKA NATIVE CLAIMS SETTLEMENT
Sec. 1628. Assignments by Regional Corporations of rights to
receive payments from Fund
(a) Recognition by Secretary; scope of recognition
Notwithstanding the provision of section 3727 of title 31, the
Secretary is authorized to recognize validly executed assignments made
by Regional Corporations of their rights to receive payments from the
Alaska Native Fund. Such assignments shall only be recognized to the
extent that the Regional Corporation involved is not required to
distribute funds pursuant to subsection (j) or (m) of section 1606 of
this title.
(b) Nonrecognition by Secretary
The Secretary shall not recognize any assignment under this section
which does not provide that the United States reserves the right to
assert against the assignee and successors of the assignee, any setoff
or counterclaim which the United States has against the assignor
Corporation.
(c) Claims against Secretary by stockholders of Regional or Village
Corporation for recognition of assignment
No stockholder of any Regional or Village Corporation shall have any
claim against the Secretary or the United States as the result of any
assignment duly recognized by the Secretary pursuant to this section.
(Pub. L. 92-203, Sec. 31, as added Pub. L. 95-178, Sec. 4, Nov. 15,
1977, 91 Stat. 1370.)
Codification
In subsec. (a), ``section 3727 of title 31'' substituted for
``section 3477 of the Revised Statutes, as amended (31 U.S.C. 203)'' on
authority of Pub. L. 97-258, Sec. 4(b), Sept. 13, 1982, 96 Stat. 1067,
the first section of which enacted Title 31, Money and Finance.
