2017 Revised Model Tribal Secured Transaction Act
For more than 20 years, the Model Tribal Secured Transaction Act (MTSTA) has served as a useful template for developing a tribal legal infrastructure aimed at improving access to affordable credit and providing consistency in lending transactions on American Indian reservations.
We are pleased to announce the publication of the 2017 Revised Model Tribal Secured Transactions Act (RMTSTA) and its supporting Implementation Guide, a detailed commentary on various RMTSTA provisions. The RMTSTA builds on the MTSTA by addressing important legal developments from the past ten years.
Please help us distribute this resource by sharing this communication with your networks whenever you have the opportunity. American Indian-owned businesses are vital components of Indian Country economies. Tribal legal infrastructure such as the RMTSTA helps to bring capital to Indian Country to spur commercial development by supporting both borrowers’ need for credit options and lenders’ need for due diligence and recourse.
More information regarding the RMTSTA and the Implementation Guide can be found on the Uniform Law Commission and CICD websites. For questions about the RMSTA, please contact Major Robinson at firstname.lastname@example.org
Training materials, model laws, and other resources related to building sound laws and legal systems that can support private business development in Indian Country.
Tribal Commercial Code Training Webinar
Presented by First Nations Oweesta and the Federal Reserve Bank of Minneapolis, April 27–28, 2011. Developed for Oweesta’s technical assistance clients, this webinar is designed to help CDFIs, community-based organizations, microenterprise development organizations, and other lenders working with Native communities better understand how to strengthen the legal infrastructure in Indian Country through the development of a commercial code.
Sue Woodrow, Community Development Project Manager, Federal Reserve Bank of Minneapolis—Helena Branch
Kellie Jewett, Associate Director of Entrepreneurship and Enterprise Development, Oweesta
Webinar slides [pdf]
Model Tribal Secured Transactions Act
Completed in 2005, the Model Tribal Secured Transactions Act is a flexible, culturally appropriate model law designed to facilitate a type of lending that is crucial for starting and sustaining private businesses. The Minneapolis Fed serves as a national leader for outreach and training on the Model Tribal Secured Transactions Act.
For further reading:
- The Uniform Law Commission’s Model Tribal Secured Transactions Act page features links to the model act, the accompanying Implementation Guide, and related resources.
- A super model: New secured transaction code offers legal uniformity, economic promise for Indian Country
Community Dividend, March 2006
A discussion of how the Model Tribal Secured Transactions Act could provide the legal structure and consistency American Indian tribes need to facilitate borrowing from off-reservation partners or other tribes.
- Secured Transaction Codes: An Important Tool for Tribal Economic and Housing Development
Published by the Federal Reserve Bank of Minneapolis, September 2004
A discussion of how commercial codes are important tools for enabling and supporting tribal economic and housing development by improving access to commercial and consumer credit.