Intratribal Transaction Law & Legal Definition

According to 31 CFR 132.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter I -- Monetary Offices, Department of the Treasury; Part 132 -- Prohibition on Funding of Unlawful Internet Gambling], intratribal transaction means “placing, receiving or otherwise transmitting a bet or wager where--

(1) The bet or wager is initiated and received or otherwise made exclusively--

(i) Within the Indian lands of a single Indian tribe (as such terms are defined under the Indian Gaming Regulatory Act; or

(ii) Between the Indian lands of two or more Indian tribes to the extent that intertribal gaming is authorized by the Indian Gaming Regulatory Act;

(2) The bet or wager and the method by which the bet or wager is initiated and received or otherwise made is expressly authorized by and complies with the requirements of--

(i) The applicable tribal ordinance or resolution approved by the Chairman of the National Indian Gaming Commission; and

(ii) With respect to class III gaming, the applicable Tribal-State compact.”