The Corporation shall have no power:
(a) To sell, mortgage, or lease for a period exceeding 40 years any trust
or restricted lands included in the limits of the Grand Traverse Band
Reservation.
(b) To expressly or implicitly enter into agreements of any kind on behalf
of the Grand Traverse Band.
(c) To pledge the credit of the Grand Traverse Band.
(d) To dispose of, pledge, or otherwise encumber real or personal property
of the Grand Traverse Band.
(e) To waive any right, privilege, or immunity of, or release any obligation
owed to, the Grand Traverse Band.
(f) To enter into any sublease or other encumbrance or other instrument
respecting lands leased to the Corporation by the Grand Traverse Band
without the prior written approval of the Tribal Council of the Grand
Traverse Band.
(g) To sell or otherwise dispose of all, or substantially all, of the
Corporation's assets, other than in the usual and regular course of
its business, without the prior written approval of the Grand Traverse
Band Tribal Council, except that the Corporation shall have the power,
without such approval, to mortgage the property known as the fee simple
lands.