As the official economic development arm of the Rosebud Sioux Tribe, we are committed to developing economic laws, regulations, and policies that make good business sense. Our policy initiatives emphasize encouraging entrepreneurship, supporting the private sector, and creating jobs. A strong, stable, and capable tribal business regulatory environment empowers economic development, ensures access to capital, and safeguards commercial transactions.
CURRENT POLICY INITIATIVES
Tribal Limited Liability Company (LLC) Law. Currently, the Rosebud Sioux Tribe’s Corporations code only allows for nonprofit and for profit corporations to be formed. By adding the ability to create LLC’s, we believe that we can spur entrepreneurship through the unique advantages that LLC’s provide, including flow-through taxation and limited liability.
Business License Renewal Update. Every business operating within the boundaries of the Rosebud Indian Reservation is required to obtain a tribal business license. While this does offer important protections to Native Americans, we believe that it has come time to encourage outside investment in our reservation. This initiative, then, will seek to modernize the process and ensure the proper regulation of commerce.
Secured Transactions Code. Secured Transactions Codes allow loans to be made using some form of security (collateralization). Banks and lending institutions rely upon state filing systems for such loans. Having a code in place with an appropriate registering partnership with the state of South Dakota will greatly the Tribe’s ability to participate in the financial services industry. The Tatanka Fund will be leading this effort. Once drafted, the code will be presented to the Government Affairs Committee to begin the codification process.
Uniform Commercial Code. A UCC governs commercial transactions, allowing for commerce to take place. The Tribe’s UCC is in need of an update to fit the modern marketplace. The Tatanka Fund will be leading this effort. Once drafted, the code will be presented to the Government Affairs Committee to begin the codification process.