8.05.010 Scope.
(a) Unless otherwise provided, the provisions of this Code apply to all corporations, whether for-profit or nonprofit, formed under the sovereign power of the Yurok Tribe.
(b) Any member of a federally recognized Indian Tribe, over 18 years of age, wishing to incorporate a nonprofit corporation may apply to the Tribal Council for issuance of a certificate of incorporation under this Code.
(c) Any member of a federally recognized Indian Tribe, over 18 years of age, wishing to incorporate either a for-profit business or cooperative, may apply to the Tribal Council for issuance of a certificate of incorporation under this Code; provided, that, if shares are to be issued, the articles of incorporation shall provide that all issued shares are subject to one or both of the following restrictions on transfer:
(1) The shareholder must offer first right to acquire his/her shares to the corporation, or one or more shareholders of the corporation, or to any designated person, or to any combination of the foregoing;
(2) The corporation, or holders of shares entitled to vote, must consent to any proposed transferee.
(d) The provisions of this Code shall be liberally construed and applied to promote its underlying purposes and policies. [Ord. 18 Part I § 1, adopted, 10/7/2008.]