Apsaalooke Limited Liability Company Act
The Apsaalooke Limited Liability Company Act, bill number CLB07-06, was passed by the Crow Tribal Legislature on March 19, 2007.
According to Apsaalooke Limited Liability Company Act, Part 1, General Provisions, Section 18-5-101. Short Title, Authority and Purposes. Suppart (c) states,” The purposes of this chapter are to provide for the economic development for the Crow Tribe and its members, to raise the standard of living and education for all Tribal members, and to obtain the highest value possible for the Tribe’s natural resources by: 1) provides the legal framework for organizing individually-owned business entities under Tribal law in order to expand the private business sector on the Crow reservation, and
(2) authorizing the formation of Tribally-owned business entities for managing the Tribe’s business activities separate from the affairs of Tribal government, with the ability to enter into legally-binding contracts and commerical relationships without the need for formal Tribal Government action”.
A Limited Liability Company (LLC) is a popular form of business entity combining the best features of corporations and partnerships.
The Apsaalooke LLC Act is patterned after the Revised Uniform LLC Act of 2006, and the Crow Tribe is the first jurisdiction in the world to adopt it.