Tribal Law Gateway  | Turtle Mountain Band of Chippewa Indians of North Dacota | Collection | Turtle Mountain Band of Chippewa Indians Tribal Code | Title 29 Business Organizations | Division II Limited Liability Company Act | Appendix B (Articles of Operation) | ARTICLE I DEFINITIONS, NAME AND TERM | 1.1 Definitions

Turtle Mountain Band of Chippewa Indians of North Dacota - Tribal Law

Disclaimer: Although every effort is made to present current and accurate information, if you need an official version of the tribe’s laws, please contact the tribe.

To contact the Turtle Mountain Band of Chippewa Indians, visit the tribe's website. The tribe also publishes their laws through the law library on their website.

Turtle Mountain Band of Chippewa Indians Tribal Code

1.1 Definitions

In addition to the terms defined elsewhere in these Articles the following definitions shall apply:

a. "Act" means the TMBCI Limited Liability Company Act (29.11 et seq.), as amended from time to time, and any successor to such statute.

b. "Articles" mean these Articles of Organization of the _______ LLC dated as of ________, as amended from time to time.

c. "Articles of Organization" mean the Articles of Organization of the Company filed with the Tribe's Secretary/Treasurer, as amended from time to time.

d. "Board" means the Board of Managers of the Company acting pursuant to the authority conferred upon them by these Articles.

e. "Cash Flow" means all cash receipts of the Company during any year, other than capital contributions of the TMBCI, less the sum payments of principal and interest on indebtedness of the Company (including working capital loans), all cash expenditures made in connection with the Company's business including, without limitation, capital expenditures, and all payments to Reserves to the extent such payments and expenditures are made from such cash receipts. Cash Flow shall be determined separately for each fiscal year.

f. "Chairman" means the duly elected Chairman of the Turtle Mountain Band of Chippewa Indians.

g. "Company" means the ____________ LLC, a TMBCI limited liability company.

h. "Fiscal Year" means the Company's fiscal year, which shall be July 1 to June 30.

i. "Tribal Council" means the Tribal Council of the TMBCI Tribe.

j. "Manager(s)" means one or more of the persons appointed to manage the Company under Article III.

k. "Member" means the TMBCI as the sole Member of the Company.

l. "TMBCI" means the Turtle Mountain Band of Chippewa Indians.

m. "Profits and Losses" mean the income or loss of the Company determined in accordance with Generally Accepted Accounting Principles.

n. "Reserves" mean, with respect to any fiscal year, any funds set aside or amount allocated during such year to reserves for Company expenses, both ordinary and capital, liabilities and operations, subject to the approval of the Tribal Council if the amount set aside in such reserves exceeds $100,000 during any fiscal year of the Company.

Original url: https://law.tmchippewa.com/us/nsn/tmchippewa/council/code/1.1

Powered by the non-profit Open Law Library.