Collapse to view only § 4026. Return of withdrawn funds
- § 4021. Purpose
- § 4022. Voluntary withdrawal from trust funds program
- § 4023. Judgment funds
- § 4024. Technical assistance
- § 4025. Grant program
- § 4026. Return of withdrawn funds
- § 4027. Savings provision
- § 4028. Report to Congress
- § 4029. Regulations
§ 4021. Purpose
The purpose of this subchapter is to allow tribes an opportunity to manage tribal funds currently held in trust by the United States and managed by the Secretary through the Bureau, that, consistent with the trust responsibility of the United States and the principles of self-determination, will—
(1) give Indian tribal governments greater control over the management of such trust funds; or
(2) otherwise demonstrate how the principles of self-determination can work with respect to the management of such trust funds, in a manner consistent with the trust responsibility of the United States.
(Pub. L. 103–412, title II, § 201, Oct. 25, 1994, 108 Stat. 4242.)
§ 4022. Voluntary withdrawal from trust funds program
(a) In general
(b) Approval of planThe 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
(Pub. L. 103–412, title II, § 202, Oct. 25, 1994, 108 Stat. 4242.)
§ 4023. Judgment funds
(a) In general
(b) Limitation
(c) Secretarial duties
In approving such plans, the Secretary shall ensure—
(1) that the purpose and use of the judgment funds identified in the previously approved judgment fund plan will continue to be followed by the Indian tribe in the management of the judgment funds; and
(2) that only funds held for Indian tribes may be withdrawn and that any funds held for individual tribal members are not to be included in the plan.
(Pub. L. 103–412, title II, § 203, Oct. 25, 1994, 108 Stat. 4242.)
§ 4024. Technical assistance
The Secretary shall—
(1) directly or by contract, provide Indian tribes with technical assistance in developing, implementing, and managing Indian trust fund investment plans; and
(2) among other things, ensure that legal, financial, and other expertise of the Department of the Interior has been made fully available in an advisory capacity to the Indian tribes to assist in the development, implementation, and management of investment plans.
(Pub. L. 103–412, title II, § 204, Oct. 25, 1994, 108 Stat. 4243.)
§ 4025. Grant program
(a) General authority
(b) Use of funds
The purposes for which funds provided under this section may be used include (but are not limited to)—
(1) the training and education of employees responsible for monitoring the investment of trust funds;
(2) the building of tribal capacity for the investment and management of trust funds;
(3) the development of a comprehensive tribal investment plan;
(4) the implementation and management of tribal trust fund investment plans; and
(5) such other purposes related to this subchapter that the Secretary deems appropriate.
(Pub. L. 103–412, title II, § 205, Oct. 25, 1994, 108 Stat. 4243.)
§ 4026. Return of withdrawn funds
Subject to such conditions as the Secretary may prescribe, any Indian tribe which has withdrawn trust funds may choose to return any or all of the trust funds such tribe has withdrawn by notifying the Secretary in writing of its intention to return the funds to the control and management of the Secretary.
(Pub. L. 103–412, title II, § 206, Oct. 25, 1994, 108 Stat. 4243.)
§ 4027. Savings provision
By submitting or approving a plan under this subchapter, neither the tribe nor the Secretary shall be deemed to have accepted the account balance as accurate or to have waived any rights regarding such balance and to seek compensation.
(Pub. L. 103–412, title II, § 207, Oct. 25, 1994, 108 Stat. 4243.)
§ 4028. Report to Congress
The Secretary shall, beginning one year after October 25, 1994, submit an annual report to the Committee on Natural Resources of the House of Representatives and the Committee on Indian Affairs of the Senate on the implementation of programs under this subchapter. Such report shall include recommendations (if any) for changes necessary to better implement the purpose of this subchapter.
(Pub. L. 103–412, title II, § 208, Oct. 25, 1994, 108 Stat. 4243.)
§ 4029. Regulations
(a) In general
(b) Effect
(Pub. L. 103–412, title II, § 209, Oct. 25, 1994, 108 Stat. 4243.)