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U.S. Code as of:
01/19/04
Section 464. Transfer of restricted Indian lands or shares in assets of Indian tribes or corporation; exchange of lands
Except as herein provided, no sale, devise, gift, exchange, or
other transfer of restricted Indian lands or of shares in the
assets of any Indian tribe or corporation organized hereunder,
shall be made or approved: Provided, however, That such lands or
interests may, with the approval of the Secretary of the Interior,
be sold, devised, or otherwise transferred to the Indian tribe in
which the lands or shares are located or from which the shares were
derived or to a successor corporation; and in all instances such
lands or interests shall descend or be devised, in accordance with
the then existing laws of the State, or Federal laws where
applicable, in which said lands are located or in which the subject
matter of the corporation is located, to any member of such tribe
or of such corporation or any heirs or lineal descendants of such
member or, except as provided by the Indian Land Consolidation Act
[25 U.S.C. 2201 et seq.], any other Indian person for whom the
Secretary of the Interior determines that the United States may
hold land in trust: Provided further, That the Secretary of the
Interior may authorize voluntary exchanges of lands of equal value
and the voluntary exchange of shares of equal value whenever such
exchange, in his judgment, is expedient and beneficial for or
compatible with the proper consolidation of Indian lands and for
the benefit of cooperative organizations.
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