Browse Arkansas Code titles and sections

43 U.S.C. § 1629d — Dissenters rights

Federal law — U.S. Code and appendices · legal_authorities

43 U.S.C. § 1629d — Dissenters rights

Source: Supplied U.S. Code snapshot — release unconfirmed · 43 U.S.C. § 1629d

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: eebe29502d8a60703d6a668ee75cc2de592b692b22d06c934962a039a107e2a7. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_adb874a59418f3f765eee23e
Source file: Laws/federal/codes/united-states-code/title-43/section-1629d-dissenters-rights--d6361e6792.md
Pages: Not recorded – Not recorded
Passage SHA-256: 3842fd24627e88ebe5566f4a7973a373d415fce00485ab943f1205c98b70abde

Source location: Title 43, Chapter 33, § 1629d; chapter-033-alaska-native-claims-settlement.md

Stored source content

**(a) Coverage** (1) Notwithstanding the laws of the State, if the shareholders of a Native Corporation— (A) fail to approve an amendment authorized by [section 1629c(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1629c/b&num=0&edition=prelim) to terminate alienability restrictions, a shareholder who voted for the amendment may demand payment from the corporation for all of his or her shares of Settlement Common Stock; or (B) approve an amendment authorized by [section 1629c(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1629c/d&num=0&edition=prelim) to continue alienability restrictions without issuing alienable common stock pursuant to [section 1629c(d)(6) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1629c/d/6&num=0&edition=prelim), a shareholder who voted against the amendment may demand payment from the corporation for all of his or her shares of Settlement Common Stock. (2) (A) A demand for payment made pursuant to paragraph (1)(A) shall be honored only if at the same time as the vote giving rise to the demand, the shareholders of the corporation approved a resolution providing for the purchase of Settlement Common Stock from dissenting shareholders. (B) A demand for payment made pursuant to paragraph (1)(B) shall be honored. **(b) Relationship to State procedure** (1) Except as otherwise provided in this section, the laws of the State governing the right of a dissenting shareholder to demand and receive payment for his or her shares shall apply to demands for payment honored pursuant to subsection (a)(2). (2) The board of directors of a Native Corporation may approve a resolution to provide a dissenting shareholder periods of time longer than those provided under the laws of the State to take actions required to demand and receive payment for his or her shares. **(c) Valuation of stock** (1) Prior to a vote described in subsection (a)(1), the board of directors of a Native Corporation may approve a resolution to provide that one or more of the following conditions will apply in the event a demand for payment is honored pursuant to subsection (a)(2)— (A) the Settlement Common Stock shall be valued as restricted stock; and (B) the value of— (i) any land conveyed to the corporation pursuant to [section 1613(h)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1613/h/1&num=0&edition=prelim) or any other land used as a cemetery; and (ii) the surface estate of any land that is both— (I) exempt from real estate taxation pursuant to [section 1636(d)(1)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1636/d/1/A&num=0&edition=prelim), and (II) used by the shareholders of the corporation for subsistence uses (as defined in [section 3113 of title 16](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section3113&num=0&edition=prelim)); or (iii) any land or interest in land which the board of directors believes to be only of speculative value; shall be excluded by the shareholder making the demand for payment, the corporation purchasing the Settlement Common Stock of the shareholder, and any court determining the fair value of the shares of Settlement Common Stock to be purchased. (2) No person shall have a claim against a Native Corporation or its board of directors based upon the failure of the board to approve a resolution authorized by this subsection. **(d) Form of payment** (1) Prior to a vote described in subsection (a)(1), the board of directors of a Native Corporation may approve a resolution to provide that in the event a demand for payment is honored pursuant to subsection (a)(2) payments to each dissenting shareholder shall be made by the corporation through the issuance of a negotiable note in the principal amount of the payment due, which shall be secured by— (A) a payment bond issued by an insurance company or financial institution; (B) the deposit in escrow of securities or property having a fair market value equal to at least 125 per centum of the face value of the note; or (C) a lien upon real property interests of the corporation valued at 125 percent or more of the face amount of the note, except that no such lien shall be applicable to— (i) land conveyed to the corporation pursuant to [section 1613(h)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1613/h/1&num=0&edition=prelim), or any other land used as a cemetery; (ii) the percentage interest in the corporation’s timber resources and subsurface estate that exceeds its percentage interest in revenues from such property under [section 1606(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1606/i&num=0&edition=prelim); or (iii) the surface estate of land that is both— (I) exempt from real estate taxation pursuant to [section 1636(d)(1)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1636/d/1/A&num=0&edition=prelim); and (II) used by the shareholders of the corporation for subsistence uses (as defined in [section 3113 of title 16](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section3113&num=0&edition=prelim)), unless the Board of Directors 11 So in original. Probably should not be capitalized. of the corporation acts so as to make such lien applicable to such surface estate. (2) A note issued pursuant to paragraph (1) shall provide that— (A) interest shall be paid semi-annually, beginning as of the date on which the vote described in subsection (a)(1) occurred, at the rate applicable on such date to obligations of the United States having a maturity date of one year, and (B) the principal amount and accrued interest on such note shall be payable to the holder at a time specified by the corporation but in no event later than the date that is five years after the date of the vote described in subsection (a)(1). **(e) Dividend adjustment** (1) The cash payment made pursuant to subsection (a) or the principal amount of a note issued pursuant to subsection (d) to a dissenting shareholder shall be reduced by the amount of dividends paid to such shareholder with respect to his or her Settlement Common Stock after the date of the vote described in subsection (a)(1). (2) Upon receipt of a cash payment pursuant to subsection (a) or a note pursuant to subsection (d), a dissenting shareholder shall no longer have an interest in the shares of Settlement Common Stock or in the Native Corporation.

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 3113 — Definitions

As used in this Act, the term “subsistence uses” means the customary and traditional uses by rural Alaska residents of wild, renewable resources for direct personal or family consumption as food, shelter, fuel, clothing, tools, or transportation; for the making and selling of handicraft articles out of nonedible byproducts of fish and wildlife resources taken for personal or family consumption; for barter, or sharing for personal or family consumption; and for customary trade. For the purposes of this section, the term— (1) “family” means all persons related by blood, marriage, or adoption, or any person living within the household on a permanent basis; and (2) “barter” means the exchange of fish or wildlife or their parts, taken for subsistence uses— (A) for other fish or game or their parts; or (B) for other food or for nonedible items other than money if the exchange is of a limited and noncommercial nature.

Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 3113

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

43 U.S.C. § 1629c — Duration of alienability restrictions

**(a) General rule** Alienability restrictions shall continue until terminated in accordance with the procedures established by this section. No such termination shall take effect until after July 16, 1993: Provided, however, That this prohibition shall not apply to a Native Corporation whose board of directors approves, no later than March 1, 1992, a resolution (certified by the corporate secretary of such corporation) electing to decline the application of such prohibition. **(b) Opt-out procedure** (1) (A) A Native Corporation may amend its articles of incorporation to terminate alienability restrictions in accordance with this subsection. Only one amendment to terminate alienability restrictions shall be considered and voted on prior to December 18, 1991. Rejection of the amendment shall not preclude consideration prior to December 18, 1991, of subsequent amendments to terminate alienability restrictions. (B) If an amendment to terminate alienability restrictions is considered, voted on, and rejected prior to December 18, 1991, then subsequent amendments to terminate alienability restrictions after December 18, 1991, shall be considered and voted on— (i) in the case of an amendment submitted by the board of directors of the corporation on its own motion, not earlier than five years after the rejection of the most recently rejected amendment to terminate restrictions; or (ii) in the case of an amendment submitted by the board of directors of the corporation pursuant to a shareholder petition, not earlier than two years after the rejection of the most recently rejected amendment to terminate restrictions. (C) If no amendment to terminate alienability restrictions is considered and voted on prior to December 18, 1991, then amendments to terminate a

Source: Supplied U.S. Code snapshot — release unconfirmed · 43 U.S.C. § 1629c

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

43 U.S.C. § 1629d — Dissenters rights

Page 494 TITLE 43—PUBLIC LANDS § 1629d (I) a restriction granting the corporation, or the corporation and members of the share- holder’s immediate family who are Natives or descendants of Natives the first right to pur- chase, on reasonable terms, the alienable com- mon stock of the shareholder prior to the sale or transfer of such stock (other than a transfer by will or intestate succession) to any other party, including a transfer in satisfaction of a lien, writ of attachment, judgment execution, pledge, or other encumbrance; or (II) any other term, restriction, limitation, or other provision permitted under the laws of the State. (C) The articles of incorporation of the Native Corporation shall be deemed amended to imple- ment the provisions of the resolution authorized by paragraph (5)(B). (D) Alienable common stock issued pursuant to this subparagraph shall not be subjected to a lien or judgment execution based upon any as- serted or unasserted legal obligation of the original recipient arising prior to the issuance of such stock. (7)(A) No share of alienable common stock issued pursuant to paragraph (6) shall carry vot- ing rights if it is owned, legally or beneficially, by a person not a Native or a descendant of a Native. (B)(i) A purchaser or other transferee of shares of alienable common stock shall, as a condition of the obligation of the issuing Native Corpora- tion to transfer such shares on the books of the corporation, deliver to the corporation or trans- fer agent, as the case may be, a statement on a form prescribed by the corporation identifying the number of such shares to be transferred to such transferee and certifying— (I) that such transferee is or is not a Native or a descendant of a Native; (II) that such transfere

Source: Supplied 2024 U.S. Code historical extraction · 43 U.S.C. § 1629d

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.