US CODE: Title 25,464. Transfer and exchange of restricted Indian land and shares of Indian tribes and corporations

TITLE 25 > CHAPTER 14 > SUBCHAPTER V > § 464

§ 464. Transfer and exchange of restricted Indian land and shares of Indian tribes and corporations

(a) Approval

Except as provided in this section, no sale, devise, gift, exchange, or other transfer of restricted Indian land or shares in the assets of an Indian tribe or corporation organized under this Act shall be made or approved.

(b) Transfer to Indian tribe

(1) In general

Land or shares described in subsection (a) of this section may be sold, devised, or otherwise transferred to the Indian tribe on the reservation of which the land is located, or in the corporation of which the shares are held or were derived (or a successor of such a corporation), with the approval of the Secretary of the Interior.

(2) Descent and devise

Land and shares transferred under paragraph (1) shall descend or be devised to any member of the Indian tribe or corporation (or an heir of such a member) in accordance with the Indian Land Consolidation Act (25 U.S.C. 2201 et seq.), including a tribal probate code approved under that Act (including regulations).

The Secretary of the Interior may authorize a voluntary exchange of land or shares described in subsection (a) of this section that the Secretary determines to be of equal value if the Secretary determines that the exchange is—

(1) expedient;

(2) beneficial for, or compatible with, achieving proper consolidation of Indian land; and

(3) for the benefit of cooperative organizations.

Notes
1 Update(s)
Parallel authorities (CFR)

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