Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 25 - Indians |
Chapter I - Bureau of Indian Affairs, Department of the Interior |
SubChapter G - Financial Activities |
Part 117 - Deposit and Expenditure of Individual Funds of Members of the Osage Tribe of Indians Who Do Not Have Certificates of Competency |
§ 117.7 - Disbursement or expenditure of surplus funds.
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§ 117.7 Disbursement or expenditure of surplus funds.
Except as provided in the regulations in this part, no disbursement or expenditure of surplus funds of Indians shall be made without the consent of the Indian owner and until authorization has been obtained from the Commissioner. Application by an Indian or his legal guardian, or if he is a minor, by his parent or legal guardian, for the expenditure of surplus funds shall be presented to the Commissioner, fully justified with the appropriate attachments such as court orders, decrees or other papers. Such application shall contain full information regarding the individual including his cash balance, the sum invested, the number of shares in the Osage mineral estate, total income from all sources including that paid on behalf of minors, the family status and the occupation or industry of the applicant. When request is made for payment to the individual without supervision, the record of said individual and his ability to handle such funds shall be shown.