Is there a limit to the amount of trust funds OTFM will disburse from a tribal trust account?
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
OTFM will only disburse the available balance of the trust funds in a tribal trust account in accordance with a use and distribution plan, if applicable, and will not overdraw a tribal trust account. If a tribe's trust funds are invested in securities that have not matured, OTFM will only sell the asset to make cash available to the tribe if:
(a) There are no restrictions against the sale, and
(b) A tribe provides OTFM with a tribal resolution stating that:
(1) The security must be sold;
(2) The tribe acknowledges that they may incur a penalty when the security is sold; and
(3) The tribe acknowledges that the security may lose value if it is sold prior to maturity.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.