Intratribal Transaction Law and 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.”
Legal Definition list
Related Legal Terms
- ABC Transaction [Oil & Gas]
- Agency Transaction (Securities)
- Alternative Mortgage Transaction [Banks & Banking]
- Arms Length Transaction
- Asset Exchange or Conversion Transaction
- Automated Transaction
- Basket Transactions
- Bona Fide Hedging Transactions and Positions
- Colorable Transaction
- Commodity Option Transaction
