(1) No ownership interest in any limited liability company in which the Tribe is an owner may be alienated unless approved by the Tribal Council. Further, no ownership interest in any tribally owned subsidiary limited liability company may be alienated unless approved by a duly adopted resolution of the Board of Directors or members of the parent tribally owned limited liability company or the parent tribal corporation.

(2) All interests in any tribally owned limited liability company shall be held by and for a tribe, or in the case of a wholly owned subsidiary limited liability company, by the parent tribally owned limited liability company or parent tribal corporation. No individual member of the Tribe shall have any personal ownership interest in any limited liability company organized under this chapter, whether by virtue of such person’s status as a member of a tribe, as an officer of a tribe’s government, or otherwise. [Res. 2023-10-019 § 1, 2023.]