A. No membership interest in any LLC in which the Nation is the sole member may be alienated unless approved by a duly adopted resolution of the Legislature. Further, no membership interest in any Osage Nation-owned subsidiary LLC may be alienated unless approved by a duly adopted resolution of the Board of Directors of the parent LLC or by a duly adopted resolution of the Legislature.

B. All interests in any LLC wholly owned by the Nation shall be held by and for the Nation, or in the case of an Osage Nation subsidiary LLC, by an LLC wholly owned by the Nation. No individual citizen of the Nation shall have any personal ownership interest in any LLC organized under this chapter and part, whether by virtue of such person’s status as a citizen of the Nation, as an officer of the Osage Nation government, or otherwise. ONCA 08-02, eff. June 13, 2008; ONCA 18-40, eff. Sept. 21, 2018.