§ 973. — Distribution of assets.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC973]
TITLE 25--INDIANS
CHAPTER 14--MISCELLANEOUS
SUBCHAPTER XLVI--PONCA TRIBE OF NEBRASKA: TERMINATION OF FEDERAL
SUPERVISION
Sec. 973. Distribution of assets
(a) Tribal assets; time limitation
All property of the United States used for the benefit of the Ponca
Tribe of Native Americans of Nebraska is declared to be a part of the
assets of the tribe, and all of the tribe's assets shall be distributed
in accordance with the provisions of this section. The distribution
shall be completed within three years from September 5, 1962, or as soon
thereafter as practicable.
(b) Designation of property for church, park, playground, or cemetery
The tribe shall designate any part of the tribe's property that is
to be set aside for church, park, playground, or cemetery purposes, and
the Secretary is authorized to convey such property to trustees or
agencies designated by the tribe for that purpose and approved by the
Secretary.
(c) Homesites; market value; improvements
Each member may select for homesite purposes and receive title to
not to exceed five acres of tribal land that is being used for homesite
purposes by such member. The member shall pay the current market value
of the homesite selection excluding any improvements or repairs
constructed by such member, his wife, children, or ancestor, as
determined by the Secretary of the Interior.
(d) Sale of assets not selected; bidding
All assets of the tribe that are not selected and conveyed to
members shall be sold by competitive bid at not less than the current
market value, and any member shall have the right to purchase property
offered for sale for a price not less than the highest acceptable bid
therefor. If more than one member exercises such right, the property
shall be sold to the member exercising the right who offers the highest
price.
(e) Proceeds and tribal funds for payment of tribal debts; distributive
share; set off; member purchases of tribal property
The net proceeds of all sales of tribal property, and all other
tribal funds, shall be used to pay, as authorized by the Secretary, any
debts of the tribe. The remainder of such proceeds and funds shall be
divided equally among the members whose names are on the final roll, or
their heirs or legatees. Any debt owed by a member, heir, or legatee to
the tribe or to the United States may be set off as authorized by the
Secretary against the distributive share of such person. Any member of
the tribe who purchases tribal property in accordance with this section
may apply on the purchase price his share of the proceeds of all sales
of tribal property, and the Secretary of the Interior shall adopt sales
procedures that permit such action.
(Pub. L. 87-629, Sec. 3, Sept. 5, 1962, 76 Stat. 429.)
Section Referred to in Other Sections
This section is referred to in section 971 of this title.
