[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR101.5]

[Page 292]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 101_LOANS TO INDIANS FROM THE REVOLVING LOAN FUND--Table of Contents
 
Sec. 101.5  Approval of loans.

    (a) Loan agreements, including those used by relending organizations 
in operating a relending program, must be executed on a form approved by 
the Commissioner. On direct United States loans, the Commissioner will 
approve the loan by issuing a commitment order covering the terms and 
conditions for making the loan.
    (b) Applications for loans from relending organizations must be 
approved, if a tribe, by the governing body or designated committee, or 
other approving committee or body authorized to act on credit matters 
for a relending organization, before the Commissioner takes action on 
the application. This designated governing body of the tribe or 
committee must be authorized to act on behalf of the relending 
organization as evidenced in the organization's declaration of policy 
and plan of operation.
    (c) Corporations, partnerships and cooperative associations 
organized for the purpose of establishing, acquiring, expanding, and 
operating an economic enterprise shall be organized pursuant to federal, 
state or tribal law. The form of organization shall be acceptable to the 
Commissioner. Economic enterprises which are or will be operated on a 
reservation(s) must comply with the requirements of applicable rules, 
resolutions and ordinances enacted by the governing body of the tribe.