Transfer and exchange of restricted Indian lands and shares of Indian tribes and corporations
Except as provided in this Act, no sale, devise, gift, exchange, or other transfer of restricted Indian lands or of shares in the assets of any Indian tribe or corporation organized under this Act shall be made or approved: Provided, That such lands or interests may, with the approval of the Secretary of the Interior, be sold, devised, or otherwise transferred to the Indian tribe in which the lands or shares are located or from which the shares were derived, or to a successor corporation: Provided further, That, subject to section 8(b) of the American Indian Probate Reform Act of 2004 (
[Public Law 108–374]; 25 U.S.C. 2201 note), lands and shares described in the preceding proviso shall descend or be devised to any member of an Indian tribe or corporation described in that proviso or to an heir or lineal descendant of such a member in accordance with the Indian Land Consolidation Act (25 U.S.C. 2201 et seq.), including a tribal probate code approved, or regulations promulgated under, that Act: Provided further, That the Secretary of the Interior may authorize any voluntary exchanges of lands of equal value and the voluntary exchange of shares of equal value whenever such exchange, in the judgment of the Secretary, is expedient and beneficial for or compatible with the proper consolidation of Indian lands and for the benefit of cooperative organizations.
[June 18, 1934, ch. 576, § 4], [48 Stat. 985]; [Pub. L. 96–363, § 1], Sept. 26, 1980, [94 Stat. 1207]; [Pub. L. 106–462, title I, § 106(c)], Nov. 7, 2000, [114 Stat. 2007]; [Pub. L. 108–374, § 6(d)], Oct. 27, 2004, [118 Stat. 1805]; [Pub. L. 109–157, § 8(b)], Dec. 30, 2005, [119 Stat. 2952]; [Pub. L. 109–221, title V, § 501(b)(1)], May 12, 2006, [120 Stat. 343].)