(g) Class B certificates of interest shall be subject to liquidation or redemption through purchase by TLE at the discretion or upon demand of the board of directors of the TLE. Value of interests (28) Certificates of interest in TLE are to be issued in units, whose unit value will be determined by the current Bureau of Agriculture Economics real estate market price for South Dakota, such index to be determined at or as near as possible to January 1 of each year. The certificate of interest value, as a result of the determination of such an index, thus placed on certificates of interest will remain without change until the following year when a new index will be determined. The base value (1943 period) per certificate of interest will be $1 per interest. (29) "The Tribal Land Enterprise is authorized to purchase land from any available funds to its credit and that title to lands thus purchased shall be taken in the name of the United States of America in trust for the Rosebud Sioux Tribe." Certificates of interest will not be issued to the tribe when purchases are made from TLE earnings. Probate of interests (30) If in probate, interests in TLE are fractionated the Rosebud Sioux Tribe is authorized to purchase such interests. TLE is authorized to act for the tribe in such transactions. Transferability of certificates (31) Except as provided in sections 27 and 30 hereof, certificates of interest in the Tribal Land Enterprise shall be transferable only to the tribe or its members, subject to approval of the Commissioner of Indian Affairs or his duly authorized representative (approved by Secretary January 28, 1947). Any and all such transfers of certificates of interest must be accomplished in the TLE office. Also, unless certificates of interest are on file in the TLE office they will not be eligible to be voted or to receive dividend payments whenever such payments are made to holders of certificates. Distribution of net earnings (32) Distribution of net earnings shall be made semiannually as of April 1 and October 1 of each year from net earnings of TLE for the year ending October 1 to holders of certificates of interest in TLE as of record and eligibility on April 1 or October 1 of that year. The distribution of net earnings as of April 1 shall not exceed 2 percent of certificates of interest value and the distribution of net earnings as of October 1 shall be the balance from net earnings from TLE for the year ending October 1, remaining after adequate reserves have been established by the board of directors for (a) depreciation, (b) reserve for contingencies, (c) normal cash operating reserves, (d) purchase of lands during the ensuing 12 months, (e) purchase of TLE certificates during the ensuing 12 months, (f) payment of indebtedness. No earnings will be paid on certificates which are not on deposit for record and safekeeping in the TLE office. During the first 10 years of operation of TLE, distribution of net earnings to be made on interests owned by the tribe shall be credited to the account of TLE and shall be subject to the order of the board of directors for use in the purchase of fractional equities in land, purchase of interests in TLE, purchase of lands and miscellaneous expenditures in connection with conducting the business of TLE, and during this 10-year period such net earnings be subject to liquidating the tribal land from the United States. At any time from the date these bylaws are approved by the Commissioner of Indian Affairs or his duly authorized representative (approved January 28, 1947), the tribal council is authorized to initiate amendments to these bylaws making provisions for future equities of the tribe in lands herein authorized for assignment to TLE for management and operation. Purchase of interests (33) The Rosebud Sioux Tribe is authorized to purchase certificates of interest in TLE (upon the approval of the Commissioner of Indian Affairs or his duly authorized representative (approved by Secretary January 28, 1947). TLE is authorized to act for the tribe in such transactions. Also, certificates of interest may be purchased with TLE funds. However, all purchases of certificates of interest for the tribe or TLE must be made on the basis of current market value as indicated in section 28 of these bylaws. Certificates of interest purchased with TLE funds, must be offered for resale at current market value, to any eligible member of the tribe who desires to secure certificates for application on assignment of TLE land. USE OF CERTIFICATES AS COLLATERAL AND SECURITY Rental tribal lands (34) TLE may accept assignment of anticipated distribution of net earnings of certificates of interest in TLE as security for rental of land within its control, or TLE may accept certificates of interest in TLE in payment of such rental. Rental other lands (35) Members of the tribe who rent land owned by other members of the tribe may assign anticipated net earnings on certificates of interest in TLE as security for such rentals, and by this process meet the requirements for bond. Security on loans (36) Members of the tribe who hold loans from the tribal credit revolving fund may assign anticipated net earnings on certificates of interest in TLE which may be accepted either as partial or total security on such loan at the discretion of the tribal corporation credit committee. Grazing fees (37) Where grazing permits are granted to members of the tribe on lands controlled by TLE, certificates of interest in TLE may be accepted in payment of grazing fees. Accounting (38) Funds collected for TLE shall be deposited in an individual Indian money account at the Rosebud Indian Agency or such other depository acceptable to the Commissioner of Indian Affairs and the tribal council. TLE shall keep an appropriate record of all land transactions even though this may duplicate any record thereof maintained by the Department of the Interior. Forms (39) The board of directors shall cause appropriate forms to be prepared for use in the execution of the various transactions involved in the operation of TLE. AUDIT (40) The tribal council shall cause an annual audit to be made on the accounts and records of TLE. Such audit shall be made previous to the annual meeting of the holders of class A certificates of interest in the Tribal Land Enterprise. A report of such audit shall be made and filed at such meeting. Liquidation (41) In the event it becomes necessary to abandon and to liquidate TLE, holders of class A certificates of interest in TLE shall be entitled to an assignment from lands held by the United States of America in trust for the Rosebud Sioux Tribe equal to the certificates based upon the appraised valuation of said land at the time the same was assigned to TLE for management and operation in such proportion as may be determined by the holders of certificates of interest at a meeting called for that purpose; such proportionate determinations to be subject to approval of the tribal council and of the Commissioner of Indian Affairs or his duly authorized representatives (approved by Secretary January 28, 1947). Class B certificates of interest shall be entitled to liquidation through leasehold agreements on tribal lands or on a cash basis from funds to the credit of TLE and or from rental returns from tribal land, subject to the same proportions as determined for class A certificates. Annual meeting (42) A meeting of the holders of certificates of interest in TLE shall be convened annually on a date set by TLE and notices of said annual meeting shall be mailed to all holders of certificates of interest in TLE on record 30 days prior to said annual meeting. Notices of said meeting shall be posted at the Rosebud Indian Agency and at all community centers 30 days prior to said meeting. At said annual meeting TLE shall render a detailed report of the status of Tribal Land Enterprise and of business transacted during last fiscal year ended, including a financial statement for TLE. Special meetings of holders of certificates of interest in TLE may be 30451-58--14 called by TLE, and upon a petition signed by holders of certificates of interest in TLE representing 25 percent of outstanding certificates of interest of record, TLE shall be required to call a special meeting of holders of certificates of interest. Thirty days' notice of special meeting shall state specifically the business to be considered. Any changes in policy or management of land and amendments to bylaws are eligible for consideration at the annual meeting, and at special meeting if specified in notice for special meetings. Proposed amendments to bylaws will be submitted to the tribal council for action and approval of the Commissioner of Indian Affairs or his duly authorized representative (approved by Secretary January 28, 1947). Voting at all meetings of holders of certificates of interest in TLE shall be on a basis of certificates of interest represented and such interests voted must be voted in person by the owners of said interests as of record; provided further that guardians may vote the interests of minors or mentally incompetent whose interests they represent. Voting of tribal certificates of interest will be on a basis of prorating, for voting purposes, among members of the tribal council present at the meeting. Prorating of such votes will be done on an equal basis to each councilman present. Each councilman shall vote his prorated number as individually desired. Voting of interests by proxy shall not be permitted. A majority vote of the certificates of interest voted on any question shall rule. The chairman of the board of directors shall preside at meetings of holders of certificates of interest, or in case the chairman is absent, the vice chairman. Maximum limitations (43) To assure that the greatest possible number of Rosebud Sioux Tribal members can take advantage of the TLE program and to limit assignment of lands to those who are primarily interested in acquiring economic units of their own, assignments will be made only to individuals who have less than 3 sections (1,920 acres) of grazing land, or 3 quarter sections (480 acres) of farm lands, or a combination thereof. Calculation of acreages considered shall include allotments; inherited acreages; Executive assignments; TLE assignments; revocable assignments, and any and all other trust land held on the Rosebud Reservation. This clause shall not prohibit exchanges of land for the purposes of consolidation or more suitable location. Land use stipulation (44) Because of potential obligations the tribe has with regard to taking back assignments at same value for which said assignments were originally issued, the following land-use clause shall be made a part of all future assignment contracts, except in those cases where assignments are in exchange for trust allotments. "The assignee agrees to use this land in accord with established tribal and Federal land-use regulations which are applicable to range and farmlands on the Rosebud Sioux Reservation. Failure on the part of the assignee to follow such approved land-use practices on this assignment will constitute a violation of this assignment contract and shall render such assignment subject to cancellation by the Rosebud Sioux Tribal Council. Cancellation shall require final approval of the Secretary of the Interior or his duly authorized representative." Should such assignments be cancelled, the assignee would be issued certificates equal, in number, to certificates of interest which were surrendered by him at the time the assignment was orginally made. Amendments to these bylaws (45) Except as provided in section 32 hereof, amendments to these bylaws shall originate in meetings of the holders of certificates of interest in the Tribal Land Enterprise or the tribal council. Proposed amendments made by holders of certificates of interest are to be submitted to the tribal council for action, and if adopted by the tribal council, submitted to the Commissioner of Indian Affairs or his duly authorized representative (approved by Secretary, January 28, 1947), for his approval or disapproval. Amendments to these bylaws shall not become effective until approved by the Commissioner of Indian Affairs or his duly authorized representative (approved by Secretary, January 28, 1947). In case the tribal council fails to endorse amendments thus proposed, the holders of interests may submit such amendments directly to the Commissioner of Indian Affairs or his duly authorized representaitve (approved by Secretary, January 28, 1947), for his approval or disapproval upon a two-thirds vote of the interests present and voting on said question. Amendments thus adopted and approved shall be in full force and effect. CERTIFICATION We hereby certify the foregoing bylaws for the Tribal Land Enterprise were adopted by the Rosebud Sioux Tribal Council at its regular session April 5-7, 1943, by a vote of 13 for and 8 against: amended at its regular session October 4-6, 1943, by resolution No. 682, adopted as of that date; pursuant to authority vested in the tribal council by article IV, section 1 (n), of the constitution and bylaws of the Rosebud Sioux Tribe, and sections 5 (b) and 5 (c) of the charter for the Rosebud Sioux Tribe; and corrected by resolution No. 696 adopted by the tribal council at regular session January 19-21, 1944, in accordance with recommendations contained in letter of approval from the Secretary of the Interior dated December 14, 1943. Further revisions, included herein, adopted by the Rosebud Sioux Tribal Council, at special session, February 19, 1954. DAN HOLLOW HORN BEAR, President, Rosebud Sioux Tribal Council, Chairman, Tribal Executive Committee. ANTOINE ROUBIDEAUX, Secretary, Rosebud Sioux Tribal Council, Secretary, Tribal Executive Committee. DEAR MR. BURNETTE: Receipt is acknowledged of your letter of June 21 in which you request an interpretation of the section in the bylaws of the Rosebud Sioux Tribal Land Enterprise concerning the voting of the tribal certificates of interest at the annual meeting of the holders of certificates. Under the revision of these bylaws of February 19, 1954, and approved August 12, 1954, section (42) annual meeting states in part as follows: "Voting of tribal certificates of interest will be on the basis of prorating, for voting purposes, among members of the tribal council (italic added) present at the meeting. Prorating of such votes will be done on an equal basis to each councilman present. Each councilman shall vote his prorated number as he individually desires. Voting of interests by proxy shall not be permitted." ** The language quoted above is clear and concise. There is no authority for the board of directors of the Tribal Land Enterprise to vote the tribal certificates of interest. The voting of these certificates is specifically reserved to those members of the tribal council present at the meeting. Sincerely yours, Copy: Superintendent, Rosebud Agency. W. BARTON GREENWOOD, Acting Commissioner. DEPARTMENT OF THE INTERIOR, BUREAU OF INDIAN AFFAIRS, Washington, D. C., August 11, 1955. Mr. ROBERT BURNETTE, President, Rosebud Sioux Tribal Council, Rosebud, S. Dak. (Through area director, Aberdeen.) DEAR MR. BURNETTE: By letter of July 8, 1955, you were informed of our interpretation of section (42) of the 1954 revision of the bylaws of the Rosebud Sioux Tribal Land Enterprise. On August 12, 1954, we approved these revised bylaws subject to the adoption of some suggested additions and amendments. These additions and amendments were never formally adopted. You are hereby advised that our letter of July 8, 1955, is to be interpreted as an unconditional approval, as of that date, of the February 19, 1954, revision of the bylaws of the Rosebud Sioux Tribal Land Enterprise. Sincerely yours, W. BARTON GREENWOOD, Acting Commissioner. Copies: Area director, Aberdeen; Superintendent, Rosebud Agency; Mr. George Kills In Sight, chairman, board of directors, Rosebud Sioux Tribal Land Enterprise (through: Area director, Aberdeen), with copy of letter of July 8, 1955. Transmitted August 15, 1955. GLENN R. LANDBLOOM, |