InvestorQ : How did we used to keep track of debt in tribes ?
chabungbam Anuradha Devi made post

How did we used to keep track of debt in tribes ?

Isha Tharwani answered.
12 months ago
I’m not sure if you are talking about the same tribe I’m assuming. But here’s my explanation to this:

A tribe is more like a local government or state or even could be a foreign nation, rather than just being a typical business corporation. Tribes have sovereign powers as to the matter of internal governance and other regulations and are given immunity by state and local regulations as far as matters of tribal lands are considered.

Tribes govern themselves, as most of them are organized by written constitutions. The activities of a tribe, no matter how commercial they seem, are generally viewed as governmental activities specifically designed to promote the provision of benefits and services to tribal members and tribal communities. These tribes are given benefits like public safety, health, education, and direct economic support.

Finances to these tribes were governed under the general principles and with the oversight of governmental agencies only. Everything to these tribes was associated directly with the Indian government and then was channelized to the said tribes. Just like any other financing, complete documents requirement, and other necessary restrictions were levied on these tribes. However, most of that finance was considered as economic support. There was always proper documentation for any debt given to these tribes, but the repayment terms were easy as compared to other general loans.