Title
AN ACT AMENDING LEGISLATIVE ACT 16-96, PROVIDING THAT THE CHEROKEE NATION TRIBAL COUNCIL AND PRINCIPAL CHIEF SHALL BE THE ENTITY THAT REPRESENTS THE OWNERSHIP INTEREST OF CORPORATIONS OR ENTITIES OWNED BY THE CHEROKEE NATION
Body
BE IT ENACTED BY THE CHEROKEE NATION:
BE IT ENACTED BY THE CHEROKEE NATION:
Section 1. Title and Codification:
This Legislative Act shall be titled as the "Ownership for the People Act of 2011" and codified under Title 18 Section 57 of the Cherokee Nation Code Annotated ("CNCA").
Section 2. Purpose:
The purpose for this enactment is to designate the Principal Chief and the Cherokee Nation Tribal Council as the entities that shall represent the Cherokee Nation's ownership interest of businesses or corporations owned wholly or majority held by the Cherokee Nation.
Section 3. Legislative History:
Legislative Act 16-96
Legislative Act 37-05
Article VI Section 7 of the Cherokee Nation Constitution states:
"The Council shall have the power to establish laws which it shall
deem necessary and proper for the good of the Nation, which shall
not be contrary to the provisions of this Constitution. The style of
all bills shall be: "Be It Enacted By The Cherokee Nation". The
style of all resolutions shall be "Be It Resolved By The Cherokee
Nation".
Article VII Section 9 of the Cherokee Nation Constitution states:
"The Principal Chief shall cause the laws of the Cherokee Nation
to be faithfully executed, and shall conduct in person and in such
manner as shall be prescribed by law, all communications and
business of the Cherokee Nation. The Principal Chief may cause
to be formed and operated, trusts, the beneficiary of which shall be
the Cherokee Nation and these trusts shall be granted such powers
as provided by law for public trusts. Authorization for these trusts,
however, must be approved by a majority vote of the Council."
Article X Section 7 of the Cherokee Nation Constitution states:
"The credit of the Cherokee Nation shall not be given, pledged,
or loaned to any individual, firm, company, corporation, or
association without the approval of the Council. The Cherokee
Nation shall not make any donations by gift, bonus, or otherwise,
to any individual, firm, company, corporation, or association
without the approval of the Council."
Section 4. Definitions:
Section 5. Substantive Provisions:
Section 5 (A) (b)
For the purposes of this Act, any business corporation, or entity wholly owned by the Cherokee Nation or, which the Cherokee Nation owns a majority interest, the entity which shall represent the shareholder and vote any and all shares of stock or interest shall be the Principal Chief and the Cherokee Nation Tribal Council. The Tribal Council and the Principal Chief shall adopt procedures to effectuate the provisions of this section.
Section 6. Provisions as cumulative:
The provisions of this act shall be cumulative to existing law.
Section 7. Severability:
The provisions of this act are severable and if any part of provision hereof shall be held void the decision of the court so holding shall not affect or impair any of the remaining parts or provisions of this act.
Section 8. Emergency Declared:
It being immediately necessary for the welfare of the Cherokee Nation, the Council hereby declares that an emergency exists, by reason whereof this act shall take effect and be in full force after its passage and approval.