Page:United States Statutes at Large Volume 111 Part 3.djvu/575

 PUBLIC LAW 105-143—DEC. 15, 1997 111 STAT. 2663 (B) $1,000 for each member who has attained the age of 62 years, but is less than 70 years of age. (C) $2,500 for each member who is 70 years of age or older. (3) After distribution pursuant to paragraph (2), the net annual earnings of the Elders' Trust Fund shall be distributed as follows: (A) 90 percent shall be distributed on October 1 of each year sifter the creation of the Elder's Trust Fund to all living enrolled members of the Band who have attained the age of 55 years upon such date, and who shall have been an enrolled member of the Band for not less than 2 years upon such date. (B) 10 percent shall be added to the principal of the Elders' Trust Fund. (4) Distribution pursuant to paragraph (3)(A) shall be as follows: (A) One share for each person on the current annual Elders' roll who has attained the age of 55 years, but is less than 62 years of age. (B) Two shares for each person who has attained the age of 62 years, but is less than 70 years of age. (C) Three shsires for each person who is 70 years of age or older. (5) None of the funds in the Elders* Trust Fund shall be distributed or expended for any purpose other than as provided in this subsection. (6) The Elders' Trust Fund shall be maintained as a separate account, which shall be audited at least once during each fiscal year by an independent certified public accountant who shall prepare a report on the results of such audit. Such report shall be reasonably available for inspection by the members of the Band. (7) The Tribal Council of the Band shall prepare an sinnual Elders' distribution roll and ensure its accuracy prior to August 30 of each year. The roll shall identify each member of the Band who has attained the minimum age and membership duration required for distribution eligibility pursuant to paragraph (3)(A). (e) GENERAL PROVISIONS.—(1) In the event that a tribal member eligible for a payment under this section shall die after preparation of the annual distribution roll, but prior to the distribution date, such payment shall be paid to the estate of such member. (2) In any case where a legal guardian has been appointed for a person eligible for a payment under this section, payment of that person's share shall be made to such guardian. (f) No SECRETARIAL RESPONSIBILITIES FOR TRUST FUND. —The Secretary shall have no trust responsibility for the investment, supervision, administration, or e^enditure of the Land Claims Distribution Trust Fund or the Elders' Trust Fund. SEC. 110. PAYMENT TO NEWLY RECOGNIZED OR REAFFIRMED TRIBES. (a) ELIGIBILITY.— In order to be eligible for tribal funds under this Act, a tribe that is not federally recognized or reaffirmed on the date of the enactment of this Act— (1) must be a signatory to either the 1836 treaty (7 Stat. 491) or the 1855 treaty (11 Stat. 621); (2) must have a membership that is predominantly Chippewa and Ottawa; (3) shall not later than 6 months after the date of the enactment of this Act, submit to the Bureau of Indian Affairs

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