The Village Corporation assumes the trust's lease obligations
To amend the Alaska Native Claims Settlement Act to provide that Village Corporations shall not be required to convey land in trust to the State of Alaska for the establishment of Municipal Corporations, and for other purposes, section 2, Sec. 2.
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The Village Corporation assumes the trust's lease obligations
The document says “shall”Who acts: Village CorporationsHow: statuteSec. 2 in the PDF
What the document says
“the Village Corporation shall assume the obligations of the applicable trust with respect to any lease or other use agreement applicable to the land on reversion of the land to the Village Corporation pursuant to subclause (I).”
The second half of subclause (III). On reversion under subclause (I), the Village Corporation has to take on the obligations the trust carried under any lease or other use agreement that applies to the land. The duty attaches at the reversion itself.
What the document actually says
“the Village Corporation shall assume the obligations of the applicable trust with respect to any lease or other use agreement applicable to the land on reversion of the land to the Village Corporation pursuant to subclause (I).”
That sentence, in plain words
The village group takes on the deals that came with the land. A lease is one kind of deal. The group must keep them.
What this is about
The trust made these deals while it held the land. They do not end when the land goes back. They pass to the group.
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