An Act
LEGISLATIVE ACT 4-04
Title
ACT RELATING TO
AMENDMENT OF L.A. 16-96, THE CHEROKEE NATION GENERAL
CORPORATION ACT, AS AMENDED BY L.A. 2-03
Body
BE IT ENACTED BY THE CHEROKEE NATION:
SECTION 1. TITLE. AND CODIFICATION
This act shall be known as the "Cherokee Nation General Corporation Act Amendments of 2004" and codified as (Title) (Section) of the Cherokee Nation Code Annotated.
SECTION 2. PURPOSE
To amend Legislative Act 16-96, as amended by Legislative Act 2-03, to remove the requirement of prior Tribal Council approval of purchases of real property by corporations in which the Cherokee Nation is the sole or majority shareholder. This Act would preserve the necessary confidentiality of real property purchases during negotiations, which protects the competitiveness of such corporations authorized by the Constitution and the laws of the Nation.
SECTION 3. LEGISLATIVE HISTORY
Legislative Act 25-01, the Freedom of Information and Rights of Privacy Act of 2001, Section 6.A.(5)(b) states:
"(b) a contract for the sale or purchase of real estate shall remain exempt from disclosure until the deed is executed, but this exemption applies only to those contracts of sale or purchase where the execution of the deed occurs within twelve months from the date of sale or purchase;"
Section 9.A.(2) of L.A. 25-01 states in part:
"A. A public body may hold a meeting closed to the public for one or more of the following reasons:
(2) Discussion of negotiations incident to proposed contractual arrangements and proposed sale or purchase of property..."
L.A. 2-03 was passed January 13, 2003, amending the Cherokee Nation General Corporation Act, L.A. 16-96.
SECTION 4. AMENDMENT
Article 3, Section 16, Subsection 17 of Legislative Act 16-96 is hereby amended by deleting the words "purchase real property or" and adding a sentence so as to read:
17. Provided that Corporations in which the Cherokee Nation is the sole or majority shareholder can not give, pledge or loan its cred...
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