Page 331 TITLE 25—INDIANS § 941i

which is classified generally to subchapter V (§461 et

seq.) of this chapter. For complete classification of this

Act to the Code, see Short Title note set out under section 461 of this title and Tables.

For the effective date of this subchapter, referred to

in subsec. (b), see Effective Date note set out under section 941 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 941h of this title.

§ 941h. Administrative provisions relating to jurisdiction, taxation, and other matters

In the administration of this subchapter:

(1) All matters involving tribal powers, immunities, and jurisdiction, whether criminal,

civil, or regulatory, shall be governed by the

terms and provisions of the Settlement Agreement and the State Act, unless otherwise provided in this subchapter.

(2) All matters pertaining to governance and

regulation of the reservation (including environmental regulation and riparian rights)

shall be governed by the terms and provisions

of the Settlement Agreement and the State

Act, including, but not limited to, section 17

of the Settlement Agreement and section

27–16–120 of the State Act, unless otherwise

provided in this subchapter.

(3) The Indian Child Welfare Act of 1978 (25

U.S.C. 1901 et seq.) shall apply to Catawba Indian children except as provided in the Settlement Agreement.

(4) Whether or not the Tribe, under section

941g(a) of this title, elects to organize under

the Act of June 18, 1934 [25 U.S.C. 461 et seq.],

the Tribe, in any constitution adopted by the

Tribe, may be authorized to exercise such authority as is consistent with the Settlement

Agreement and the State Act.

(5) In no event may the Tribe pledge or hypothecate the income or principal of the Catawba Education or Social Services and Elderly Trust Funds or otherwise use them as security or a source of payment for bonds the

Tribe may issue.

(6) The Indian Self-Determination and Education Assistance Act (25 U.S.C. 450 et seq.)

shall apply to the Tribe except to the extent

that such application may be inconsistent

with this subchapter or the Settlement Agreement.

(Pub. L. 103–116, §10, Oct. 27, 1993, 107 Stat. 1126.)

REFERENCES IN TEXT

The Indian Child Welfare Act of 1978, referred to in

par. (3), is Pub. L. 95–608, Nov. 8, 1978, 92 Stat. 3069, as

amended, which is classified principally to chapter 21

(§1901 et seq.) of this title. For complete classification

of this Act to the Code, see Short Title note set out

under section 1901 of this title and Tables.

Act of June 18, 1934, referred to in par. (4), is act June

18, 1934, ch. 576, 48 Stat. 984, as amended, popularly

known as the Indian Reorganization Act, which is classified generally to subchapter V (§461 et seq.) of this

chapter. For complete classification of this Act to the

Code, see Short Title note set out under section 461 of

this title and Tables.

The Indian Self-Determination and Education Assistance Act, referred to in par. (6), is Pub. L. 93–638, Jan.

4, 1975, 88 Stat. 2203, as amended, which is classified

principally to subchapter II (§450 et seq.) of this chapter. For complete classification of this Act to the Code,

see Short Title note set out under section 450 of this

title and Tables.

§ 941i. Tribal trust funds

(a) Purposes of trust funds

All funds paid pursuant to section 941c of this

title, except for payments made pursuant to section 941d(g) of this title, shall be deposited with

the Secretary in trust for the benefit of the

Tribe. Separate trust funds shall be established

for the following purposes: economic development, land acquisition, education, social services and elderly assistance, and per capita payments. Except as provided in this section, the

Tribe, in consultation with the Secretary, shall

determine the share of settlement payments to

be deposited in each Trust Fund, and define,

consistently with the provisions of this section,

the purposes of each Trust Fund and provisions

for administering each, specifically including

provisions for periodic distribution of current

and accumulated income, and for invasion and

restoration of principal.

(b) Outside management option

(1) The Tribe, in consultation with and subject

to the approval of the Secretary, as set forth in

this section, is authorized to place any of the

Trust Funds under professional management,

outside the Department of the Interior.

(2) If the Tribe elects to place any of the Trust

Funds under professional management outside

the Department of the Interior, it may engage a

consulting or advisory firm to assist in the selection of an independent professional investment management firm, and it shall engage,

with the approval of the Secretary, an independent investment management firm of proven

competence and experience established in the

business of counseling large endowments, trusts,

or pension funds.

(3) The Secretary shall have 45 days to approve

or reject any independent investment management firm selected by the Tribe. If the Secretary fails to approve or reject the firm selected by the Tribe within 45 days, the investment management firm selected by the Tribe

shall be deemed to have been approved by the

Secretary.

(4) Secretarial approval of an investment management firm shall not be unreasonably withheld, and any Secretarial disapproval of an investment management firm shall be accompanied by a detailed explanation setting forth

the Secretary’s reasons for such disapproval.

(5)(A) For funds placed under professional

management, the Tribe, in consultation with

the Secretary and its investment manager, shall

develop—

(i) current operating and long-term capital

budgets; and

(ii) a plan for managing, investing, and distributing income and principal from the Trust

Funds to match the requirements of the

Tribe’s operating and capital budgets.

(B) For each Trust Fund which the Tribe

elects to place under outside professional management, the investment plan shall provide for

investment of Trust Fund assets so as to serve

the purposes described in this section and in the