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June 27, 2007
CROW AGENCY – The Crow Tribal Secretary’s
Office is officially announcing today that
it is now implementing its
Apsaalooke Limited Liability Company Act (CLB
07-06) that was approved by the Crow
Legislature in March, 2007.
A Limited Liability Company (LLC) is a
popular form of business entity combining
the best features of corporations and
partnerships. The Apsaalooke LLC Act is
patterned after the Revised Uniform LLC Act
of 2006, and the Crow Tribe is the first
jurisdiction in the world to adopt it. In
addition to authorizing Tribally-owned LLC’s
as instrumentalities of the Crow Tribe in
accordance with Article V, Section 2(c) of
the Crow Constitution, the Act also provides
“the legal framework for organizing
individually-owned business entities under
Tribal law in order to expand the private
business sector on the Reservation.”
The adoption and implementation of the LLC
Act represents an historic step that allows
Tribal members to establish individual
businesses under Tribal law, and is expected
to further the Tribe’s economic development
and business opportunities.
To begin the filing process, applicants
should stop by the Secretary of the Crow
Tribe’s Office of Business Entity
Registration to receive an LLC packet.
Copies of the Act will also be available.
Upon paying the required filing fee ($50)
and filing a
Certificate of Organization as
described in the Act, any person can create
a Tribally-chartered LLC to conduct their
business.
The Tribal Secretary’s office and the
Economic Development department are prepared
to offer guidance to Tribal members on
registering and setting up their companies.
All people who would like to start LLC’s are
also urged to consult with a business
attorney and/or certified public accountant
for legal and tax advice on forming and
operating their companies. |
