What limitations and restrictions apply to withdrawn funds?

25 C.F.R. § 1200.12
in effectEffective: 2024-07-01
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) A tribe may withdraw funds appropriated to satisfy judgments of the Indian Claims Commission (ICC) and the Court of Federal Claims and that we hold under the Indian Judgment Funds Use and Distributions Act (25 U.S.C. 1401) or another act of Congress if: (1) The tribe uses the funds as specified in the previously approved judgment fund plan, and; (2) The tribe withdraws only funds held for Indian tribes and does not include any funds held for individual tribal members. (b) A tribe may withdraw funds appropriated to satisfy settlement agreements relating to certain tribal claims and that we hold and manage for the tribe pursuant to an act of Congress if: (1) The tribe uses the funds as specified in the previously approved settlement act plan; (2) The tribe withdraws only funds held for Indian tribes and does not include any funds held for individual tribal members; and (3) It is determined that there is no provision in the act or settlement agreement requiring that the funds remain in trust to implement the act or agreement that cannot be waived. (c) Tribal funds commonly known as “Proceeds of Labor” funds, usually income to trust resources, are generally withdrawn under normal tribal budgeting procedures, but may also be withdrawn from trust under this part. These funds may be returned to trust under the provisions of subpart C of this part.

Starting a business? Corpus forms LLCs in all 50 states and DC.