16.01.370 Directly Owned Entities; Indirectly Owned Entities; Consent

(a) The consent of the Tribal Council shall be required prior to the incorporation under this title of any Entity to be wholly owned by the Tribe. For this purpose, the incorporator shall file a certified copy of a resolution of the Tribal Council authorizing the formation of the Entity with the Tribal Secretary, at the same time as the incorporator files the articles of incorporation of an Entity to be wholly owned by the Tribe.

(b) The consent of the board of directors of the Entity wholly owned by the Tribe shall be required prior to the incorporation under this title of a subsidiary corporation to be wholly owned by a parent corporation that is wholly owned by the Tribe. For this purpose, the incorporator shall file with the Tribal Secretary, when the incorporator files the articles of incorporation of a subsidiary corporation to be wholly owned by a parent corporation that is wholly owned by the Tribe, a certified copy of a resolution of the board of the parent corporation authorizing the formation of the subsidiary corporation.

(c) The articles of an Entity wholly owned, directly or indirectly, by the Tribe and subject to the provisions of this chapter shall expressly so state and when accepting the articles for filing, the administrator shall note that the corporation is governed by the provisions of this title applicable to wholly owned tribal Entities.