Sec. 5. DIVISION OF JUDGMENT FUNDS

400 words·~2 min read·/statute-compilations/comps-10026/sec-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 5 DIVISION OF JUDGMENT FUNDS ###

(a)Membership Rolls Not later than 90 days after the date of the enactment of this Act, the Minnesota Chippewa Tribe shall submit to the Secretary updated membership rolls for each Band, which shall include all enrolled members the date of the enactment of this Act. ###

(b)Divisions After all funds have been reimbursed under section 4, and the membership rolls have been updated under subsection (a), the Secretary shall— ####

(1)set aside for each Band a portion of the available judgment funds equivalent to $300 for each member enrolled within each Band; and ####

(2)after the funds are set aside in accordance with paragraph (1), divide 100 percent of the remaining funds into equal shares for each Band. ###

(c)Separate Accounts The Secretary shall— ####

(1)deposit all funds described in subsection (b)(1) into a “Per Capita” account for each Band; and ####

(2)deposit all funds described in subsection (b)(2) into an “Equal Shares” account for each Band. ###

(d)Withdrawal of Funds After the Secretary deposits the available funds into the accounts described in subsection (c), a Band may withdraw all or part of the monies in its account. ###

(e)Disbursement of Per Capita Payments All funds described in subsection (b)(1) shall be used by each Band only for the purposes of distributing one $300 payment to each individual member of the Band. Each Band may— ####

(1)distribute the $300 payment to the parents or legal guardians on behalf of each dependent Band member instead of distributing such $300 payment to the dependent Band member; or ####

(2)deposit into a trust account the $300 payment to each dependent Band member for the benefit of such dependent Band member, to be distributed under the terms of such trust. ###

(f)Distribution of Unclaimed Payments One year after the funds described in subsection (b)(1) are made available to the Bands, all unclaimed payments described in subsection

(e)shall be returned to the Secretary, who shall divide these funds into equal shares for each Band, and deposit the divided shares into the accounts described in subsection (c)(2) for the use of each Band. ###

(g)Liability If a Band exercises the right to withdraw monies from its accounts, the Secretary shall not retain liability for the expenditure or investment of the monies after each withdrawal.