Ownership of the company is vested in the Federally chartered Tulalip corporate entity. All of the assets acquired by the company venture shall belong to the company but may be transferred to the Tribal corporation. Profits in excess of those needed for successful company operation and expansion as determined by the Board shall be distributed, as provided in the Corporate Charter of the Tulalip Tribes.
(Ord. 61 § 5.1, 4-6-1985)
The Management Board shall establish a reserve fund, consisting of such portion of the annual net earnings as it deems necessary to meet contingencies of the company. The balance of the net earnings shall be credited to a “surplus” to be distributed by the Tribal Board of Directors, as provided in the Tribes’ Corporate Charter.
(Ord. 61 § 5.2, 4-6-1985)