Sec. 1607. - Village Corporations
Submitted by rwk on Fri, 12/17/2004 - 7:43am.
| TITLE 43 > CHAPTER 33 > § 1607 |
§ 1607. Village Corporations
Release date: 2003-07-24
(a)
Organization of Corporation prerequisite to receipt of patent to lands or benefits under chapter
The Native residents of each Native village entitled to receive lands and benefits under this chapter shall organize as a business for profit or nonprofit corporation under the laws of the State before the Native village may receive patent to lands or benefits under this chapter, except as otherwise provided.
(b)
Regional Corporation: approval of initial articles; review and approval of amendments to articles and annual budgets; assistance in preparation of articles and other documents
The initial articles of incorporation for each Village Corporation shall be subject to the approval of the Regional Corporation for the region in which the village is located. Amendments to the articles of incorporation and the annual budgets of the Village Corporations shall, for a period of five years, be subject to review and approval by the Regional Corporation. The Regional Corporation shall assist and advise Native villages in the preparation of articles of incorporation and other documents necessary to meet the requirements of this subsection.
(c)
Applicability of section 1606
The provisions of subsections (g), (h) (other than paragraph (4)), and (o) of section 1606 of this title shall apply in all respects to Village Corporations, Urban Corporations, and Group Corporations.
