7.07.080 Conveyance of Assignment

(a) An assignee shall have the right to convey, grant, assign, transfer, pledge, or encumber the assignee's assignment only as follows:

(1) Conveyance by an assignee to another eligible tribal participant or eligible tribal participants of such assignee's assignment rights in and to an assignment, and whether for value received or by gift;

(2) Conveyance of a deceased assignee's assignment to an eligible tribal participant or eligible tribal participants pursuant to the terms of such deceased assignee's will as probated in the Tribal Court or otherwise by operation of the intestacy laws of the Tribe as determined by the Tribal Court;

(3) Conveyance of a deceased assignee's assignment by will or intestacy to a eligible surviving spouse will be authorized to the extent permitted by applicable tribal probate, estate or residency law;

(4) In accordance with an order of the Tribal Court, conveyance of an assignee's assignment to a guardian or conservator for an eligible tribal participant or eligible tribal participants who are incapable or have not reached the age of majority;

(5) Granting of a security interest in an assignment to a loan program lender pursuant to the terms of an assignment mortgage;

(6) License or other grant by an assignee to a tribal member or tribal members of less than all of such assignee's assignment rights, including, but not limited to, rights to occupy an assignment provided such license or other grant is evidenced by an instrument countersigned by Tribal Council indicating its approval and then recorded prior to the date such grantee is entitled to exercise such rights.

(b) Unless expressly permitted above or as otherwise may be permitted by tribal law, any purported conveyance, grant, assignment, transfer, pledge, or encumbrance of an assignee's rights, arising under an assignment conveyance held by such assignee, shall be null, void, and unenforceable. Upon recording an instrument evidencing a permitted conveyance of an assignment, the eligible tribal participant to whom the assignment is conveyed shall be the assignee for all purposes of this Land Assignment Ordinance.

(c) Except as expressly permitted under this law with respect to the rights of a loan program lender, any purported assignment to a corporation, limited liability company, limited partnership, or entity other than a natural person, whether the same is wholly owned or controlled by an eligible tribal participant or eligible tribal participants and whether or not the same is chartered or created under tribal law, shall be null, void and of no effect. A loan program lender is expressly permitted to assign its' interests and rights, in settlement of a title insurance claim, to the title insurer whose policy was issued insuring the loan program lender.