§1628 Assignments by Regional Corporations of Rights to Receive Payments From Fund

Summary

Allows the Secretary to accept assignments from Regional Corporations that transfer their right to get payments from the Alaska Native Fund, even if 31 U.S.C. 3727 might say otherwise. The Secretary can only accept those assignments when the Regional Corporation is not required to pay out the money under subsection (j) or (m) of section 1606. The Secretary must refuse any assignment that does not say the United States keeps the right to use any offset or legal claim it has against the original corporation, and to assert that right against the assignee and its successors. No shareholder of a Regional or Village Corporation can make a claim against the Secretary or the United States because an assignment was accepted.