Proposed regulations to better protect the per capita shares of minors, legal incompetents and deceased beneficiaries of Indian judgment funds were published in the Federal Register on November 1975, Commissioner of Indian Affairs Morris Thompson announced today.
The judgment funds are monies awarded to Indian tribal groups by the Indian Claims Commission or the U.S. Court of Claims, - generally for lands ceded under treaty or otherwise taken from the tribes without adequate compensation and also for an accounting of funds. Plans for the use and distribution of the judgment funds frequently include a per capita distribution to tribal members.
Any minor's share in excess of $100, according to the proposed regulations, cannot be disbursed until the minor reaches the age of 18. This applies to both the principal and accrued interest.
The regulations also set forth detailed, stringent requirements the establishment of a private trust for minors' shares.
Commissioner Thompson said that the new regulations had been developed because tribal groups had demonstrated or expressed a need for more specific guidelines.
Comments on the proposed regulations should be sent within 60 days of publication to the Commissioner of Indian Affairs, Attention: Division of Tribal Government Services, Washington, D.C. 20245.
