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A. The Osage Nation may not borrow, encumber by debt covenant or appropriate funds from the Permanent Fund except for expenditure on direct assistance by appropriation for the Osage Nation membership or by appropriation for government operations and government services in the event of a financial emergency due to insufficient funds in the General Fund of the Treasury.

B. No loan, transaction for collateral or security, or any indebtedness of the Osage Nation, or boards, commissions, or enterprises of the Osage Nation, shall include the Permanent Fund or its funds as collateral or as part of any guarantee.

C. All expenditures of appropriated funds out of the Permanent Fund shall be recorded individually by the Treasury. The Treasurer shall submit to the Principal Chief and the Osage Nation Congress a report, with the individual expenditures listed, each month that expenditures are disbursed out of the Permanent Fund. ONCA 12-85, eff. Apr. 19, 2013; ONCA 13-56, eff. Sept. 24, 2013; ONCA 18-69, eff. Sept. 25, 2018; ONCA 19-24, eff. Apr. 16, 2019; ONCA 19-63, eff. Apr. 16, 2020.