§1628 Assignments by Regional Corporations of rights to receive payments from Fund

Summary

The Secretary may accept valid assignments by Regional Corporations of their rights to get payments from the Alaska Native Fund, even if 31 U.S.C. 3727 would normally limit that. Assignments are allowed only when the corporation is not required to distribute the funds under section 1606(j) or 1606(m). Any assignment must say the United States keeps the right to use any offset or counterclaim it has against the original corporation against the assignee and the assignee’s successors. No shareholder of a Regional or Village Corporation can make a claim against the Secretary or the United States because the Secretary accepted an assignment.