Is there a limit to the amount of trust funds OTFM will disburse from a tribal trust account?
OTFM will only disburse the available balance of the trust funds in a tribal trust account in accordance with a use and distribution plan, if applicable, and will not overdraw a tribal trust account. If a tribe's trust funds are invested in securities that have not matured, OTFM will only sell the asset to make cash available to the tribe if:
(a) There are no restrictions against the sale, and
(b) A tribe provides OTFM with a tribal resolution stating that:
(1) The security must be sold;
(2) The tribe acknowledges that they may incur a penalty when the security is sold; and
(3) The tribe acknowledges that the security may lose value if it is sold prior to maturity.
Title 25 published on 2011-04-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.