43.02.010 Lending Operations, Loans, and Loan Products; Use of Revenues

(a) The Tribe shall have a substantial beneficial interest in all Lending Operations.

(b) Each Lending Operation shall:

(1) be authorized and licensed in accordance with this Code;

(2) be owned and controlled by the Tribe or a Tribal Entity; but nothing in this Code shall prohibit Lending Operations from entering into contracts with Service Providers, including contracts for management, marketing, or other services related to the Lending Operation or the provision of Covered Loans;

(3) comply with Tribal Law, this Code, and Tribal Consumer Protection Laws;

(4) maintain a Compliance Management System designed to ensure that the Lending Operation is in full compliance with Tribal Law and applicable Tribal Consumer Protection Laws. "Compliance Management System" is the process that must be established by a Lending Operation to:

(A) establish its compliance responsibilities;

(B) communicate those responsibilities to employees;

(C) ensure that responsibilities for meeting legal requirements and internal policies are incorporated into business processes;

(D) review operations to ensure responsibilities are carried out and legal requirements are met;

(E) take corrective action and update tools, systems, and materials as necessary; and

(F) maintain independent control components that address:

(i) board of directors and management oversight;

(ii) corporate and business line compliance programs;

(iii) consumer complaint management; and

(iv) compliance examinations.

(5) The Compliance Management System shall include, at a minimum:

(A) the designation of an individual responsible for day-to-day compliance with this Code;

(B) compliance policies and procedures, risk-focused internal controls, and a Service Provider management program for compliance with this Code;

(C) ongoing internal oversight, testing, and auditing of compliance procedures, recording of results, and reporting of results to management and the Commission;

(D) initial and ongoing training in Code compliance for all employees and managers, consistent with respective positions, and a consumer complaint response protocol that allows for recording of complaints, prompt resolution, and the incorporation of information gathered into compliance program revisions; and

(E) risk-based transaction testing and recording of results, and reporting of results to management and the Commission.

(d) All Loan Products shall be Licensed and adhere to this Code and the Tribal Consumer Protection Laws. Without limiting the general application of the foregoing, the following conduct is required under this code:

(e) All Service Providers shall be registered with the Commission and adhere to this Code and the Tribal Consumer Protection Laws. Service Providers shall be subject to applicable sections of this code without regard to place of incorporation or headquarters location.

(f) All Key Employees shall be registered with the Commission, may be subject to background checks and adhere to this Code and the Tribal Consumer Protection Laws. Key Employees shall be subject to applicable sections of this Code without regard to place of residence or Tribal membership.