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Frequently Asked Questions:

 

1.  What is Belay Empire Unincorporated?

Belay Empire Unincorporated is a 508 (c) (1) (a) Association, that exists in the financial space as a religious, biblical, and ancestral-based financial institution that offers loans. 

 

2.  Who is Belay Empire Unincorporated target market?

Belay Empire Unincorporated aims to provide services for minorities, private individuals, and Indigenous Peoples in North America.

 

3.  Why the need for the type of loan service Belay Empire Unincorporated offers?

Belay Empire Unincorporated is dedicated to providing loans that are 100% free of usury; making the process lawful, ethical, fair, and reasonable for minorities, private individuals, and Indigenous Peoples. 

 

4.  Where is Belay Empire Unincorporated located? 

Belay Empire Unincorporated is located in North America (Republic) in California State (Republic).

 

5.  Does Belay Empire Unincorporated have any exceptions or exemptions? 

Yes, Belay Empire Unincorporated has mandatory exceptions and exemptions

from registration, licensing, and taxes.

 

6.  Is Belay Empire Unincorporated registered with the Security and Exchange Commission (SEC)?

No, Belay Empire Unincorporated falls under Rule 506(b) of Regulation D “safe harbor” for the following reasons:

 

a. Belay Empire Unincorporated is not a publicly traded company, publicly held company, publicly listed company, or public limited company.

 

b. Belay Empire Unincorporated does not offer any public securities.

 

c. Belay Empire Unincorporated investors are private Indigenous investors.

 

d. Belay Empire Unincorporated does not take any deposits from the public.

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7.  What is a 508 (c) (1) (a)?

26 U.S. Code § 508 - Special rules with respect to section 501(c)(3) organizations.

 

(a)New organizations must notify Secretary that they are applying for recognition of section 501(c)(3) status Except as provided in subsection (c), an organization organized after October 9, 1969, shall not be treated as an organization described in section 501(c)(3)—

 

(1)unless it has given notice to the Secretary in such manner as the Secretary may by regulations prescribe, that it is applying for recognition of such status, or

 

(2)for any period before the giving of such notice, if such notice is given after the time prescribed by the Secretary by regulations for giving notice under this subsection.

 

(b)Presumption that organizations are private foundations

Except as provided in subsection (c), any organization (including an organization in existence on October 9, 1969) which is described in section 501(c)(3) and which does not notify the Secretary, at such time and in such manner as the Secretary may by regulations prescribe, that it is not a private foundation shall be presumed to be a private foundation.

 

(c) Exceptions

 

(1) Mandatory exceptions

Subsections (a) and (b) shall not apply to—

 

(A) churches, their integrated auxiliaries, and conventions or associations of churches, or

 

(B) any organization which is not a private foundation (as defined in section 509(a)) and the gross receipts of which in each taxable year are normally not more than $5,000.

 

Other Relevant Information:

 

FINANCIAL CODE - FIN DIVISION 9. CALIFORNIA FINANCING LAW [22000 - 22780.1] 

( Heading of Division 9 amended by Stats. 2017, Ch. 475, Sec. 3. ) CHAPTER 1. General Provisions [22000 - 22172]  ( Chapter 1 added by Stats. 1994, Ch. 1115, Sec. 2. )

 

22050.
(e) This division does not apply to any person who makes five or fewer loans in a 12-month period, these loans are commercial loans as defined in Section 22502, and the loans are incidental to the business of the person relying upon the exemption. 
 
22064.

  (a) This division does not apply to the following:

 

(1) A program-related investment defined in subsection (c) of Section 4944 of the Internal Revenue Code and United States Treasury Regulations Section 53.4944-3 that is made by a private foundation, tax-exempt organization within the meaning of Section 509(a) of the Internal Revenue Code.

 

(2) A loan, guaranty, or investment made by a public charity, tax-exempt organization within the meaning of paragraph (1), (2), or (3) of subsection (a) of Section 509 of the Internal Revenue Code that meets all of the following requirements:

 

(A) The primary purpose of the loan, guaranty, or investment is to accomplish one or more of the exempt purposes of the public charity making the loan, as described in Section 170(c)(2)(B) of the Internal Revenue Code.

 

(B) Neither the production of income nor the appreciation of property is a significant purpose of the loan, guaranty, or investment.

 

(C) No purpose of the loan, guaranty, or investment is to accomplish one or more of the purposes described in Section 170(c)(2)(D) of the Internal Revenue Code.

 

(b) Subdivision (a) shall not exempt from the provisions of this division a tax-exempt organization that is making consumer loans as defined in Sections 22203 and 22204.

 

(c) A loan that is secured by any assets owned by an individual shall be exempt under subdivision (a) only if the individual providing the security is an “accredited investor” as defined in paragraph (5) or (6) of subsection (a) of Section 230.501 of Title 17 of the Code of Federal Regulations. Property held by an individual for personal, family, or household purposes, including an individual’s personal residence, may not be taken as security for a loan.

 

(d) A program-related investment by a private foundation, and any loan, guaranty, or investment made by a public charity that is exempt under subdivision (a) is subject to the implied covenant of good faith and fair dealing under Section 1655 of the Civil Code.

 

(e) (1) Subdivision (a) shall exempt from the provisions of this division a program-related investment by a private foundation, or a loan, guaranty, or investment by a public charity, only if the following conditions are satisfied:

 

(A) The organization making the program-related investment, loan, guaranty, or investment is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and is organized and operated exclusively for one or more of the purposes described in Section 501(c)(3) of the Internal Revenue Code.

 

(B) No part of the net earnings of the organization making the program-related investment, loan, guaranty or investment inures to the benefit of a private shareholder or individual.

 

(C) No broker’s fee will be paid in connection with the making of the program-related investment, loan, guaranty, or investment or placement of the program-related investment, loan, guaranty or investment.

 

(2) This subdivision does not prohibit the organization making the program-related investment, loan, guaranty, or investment from charging interest on the loan or investment or fees on the guaranty.

 

(f) Subdivision (a) shall only exempt from the provisions of this division a program-related investment by a private foundation or a loan, guaranty, or investment by a public charity that is made for the primary purpose of accomplishing one or more of the organization’s exempt purposes described in Section 501(c)(3) of the Internal Revenue Code, and no significant purpose of which is the production of income or the appreciation of property within the meaning of subsection (c) of Section 4944 of the Internal Revenue Code. A recipient shall be required to use all funds received from the private foundation or the public charity only for the charitable purposes for which the program-related investment, loan, guaranty, or investment was made.

 

(g) Subdivision (a) shall only exempt from the provisions of this division a program-related investment by a private foundation or a loan, guaranty, or investment by a public charity if the organization consummates not more than 35 loans in a calendar year. In the making and negotiating of these loans, the private foundation or public charity shall take into consideration the financial ability of the recipients to repay the loans in the time and manner provided.

 

(h) Nothing in this section is intended to abrogate or diminish the application of any other applicable laws that are designed to govern the tax-exempt organizations described in subdivision (a), including, but not limited to, laws pertaining to recordkeeping and reporting to the Attorney General and the Internal Revenue Service or to protect borrowers, including, but not limited to, laws pertaining to licenses, unfair competition, usury, and conflicts of interest.

 

(Amended by Stats. 2009, Ch. 103, Sec. 1. (AB 401) Effective January 1, 2010.)

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U.S. SECURITIES AND EXCHANGE COMMISSION

 

Exempt Offerings

We explain the exemptions from registration that are most frequently asked about.

 

Private placements - Rule 506(b)

Section 4(a)(2) of the Securities Act exempts from registration transactions by an issuer not involving any public offering.

 

Section 4(a)(2)

Rule 506(b) of Regulation D is considered a “safe harbor” under Section 4(a)(2). It provides objective standards that a company can rely on to meet the requirements of the Section 4(a)(2) exemption. Companies conducting an offering under Rule 506(b) can raise an unlimited amount of money and can sell securities to an unlimited number of accredited investors. An offering under Rule 506(b), however, is subject to the following requirements:

  • no general solicitation or advertising to market the securities

  • securities may not be sold to more than 35 non-accredited investors (all non-accredited investors, either alone or with a purchaser representative, must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment)

 

If non-accredited investors are participating in the offering, the company conducting the offering:

  • must give any non-accredited investors disclosure documents that generally contain the same type of information as provided in Regulation A offerings (the company is not required to provide specified disclosure documents to accredited investors, but, if it does provide information to accredited investors, it must also make this information available to the non-accredited investors as well)

  • must give any non-accredited investors financial statement information specified in Rule 506 and

  • should be available to answer questions from prospective purchasers who are non-accredited investors

  • ​

Purchasers in a Rule 506(b) offering receive “restricted securities." A company is required to file a notice with the Commission on Form D within 15 days after the first sale of securities in the offering. Although the Securities Act provides a federal preemption from state registration and qualification under Rule 506(b), the states still have authority to require notice filings and collect state fees.

 

Rule 506(b) offerings are subject to “bad actor” disqualification provisions.

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Mailing Location

Attention: BELAY EMPIRE

â„… 3020 Bernal Ave Suite 110 #2133

Non-domestic Pleasanton,

California Republic [94566]

Indigenous Institution Identifier: 922524622

FUNDING ACCOUNTS: NOTICE AND LEGAL FRAMEWORK

 

PLEASE BE ADVISED OF THE FOLLOWING:

 

Belay Empire's negotiable instruments are issued by an independent, private, unincorporated Indigenous Peoples financial institution.

 

Applicable Legal Framework: Belay Empire's negotiable instruments are governed by, including but not limited to, the following:

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  • Principles of Indigenous Peoples’ Sovereignty,

  • Relevant Treaties,

  • Uniform Commercial Code (UCC) Articles 1-9,

  • United Nations Declaration on the Rights of Indigenous Peoples (2010), Articles 1-46,

  • American Declaration on the Rights of Indigenous Peoples (2016), Articles 1-41,

  • Negotiable Instruments Law of 1955, Chapter 35,

  • Public Law 97-280 (97th Congress, October 4, 1982),

  • Congressional Record, 73rd Congress (First Session, March 9, 1933), Page 83, Paragraph 1: "Expansion of Currency Necessary,"

  • and International Law.

 

Belay Empire Indigenous Peoples Financial Institution operates independently, without affiliation to the United States Federal Reserve System, providing a unique level of autonomy. As a private unincorporated association, we are not required to register with the U.S. government as a formal company, nor with the Securities and Exchange Commission, as we do not offer securities to the public. Similarly, we are not obligated to register with the Treasury Department as a financial entity. This independence allows us to conduct transactions in accordance with our culture, customs, principles, and objectives, ensuring economic sovereignty and self-determination for Indigenous Peoples.

 

Funding Capabilities: Belay Empire is committed to conducting transactions in good faith and with full transparency. We offer various methods for account funding, including but not limited to the following:

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  • Bank Drafts

  • Cashier's Checks

  • Bank Checks

  • Bills Of Exchanges

  • Promissory Notes

  • Letters Of Credits

  • Credit/Debit Transfers via Book Entries

  • Ledger-to-Ledger Transfers

  • Email Transfers

  • Direct API Integration

  • Contractual Agreements​

 

Belay Empire Wire Transfer Policies and Sovereignty Recognition

 

Wire Transfer Policy:
Belay Empire does not facilitate wire transfers as it operates independently of systems like the U.S. Federal Reserve, ABA, ACH, SWIFT, and Fedwire. However, it utilizes an Indigenous Institution Identifier, 922524622, which can be manually entered to support transaction tracking and identification.

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Recognition of Sovereignty:
Indigenous Peoples' right to establish and operate independent financial systems is affirmed by the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) and historical treaties. These frameworks ensure that financial instruments issued by Indigenous financial institutions are recognized as valid under both international and domestic law.

​

U.S. and International Legal Obligations:
Under U.S. law, statutes such as 11 U.S.C. § 1503 underscore the importance of recognizing Indigenous sovereignty and the legitimacy of their financial systems within domestic legal frameworks. This aligns with the nation's broader commitments to honoring Indigenous rights and obligations.

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Legal Foundations and Precedents:

 

A. Public Law Joint Resolutions 73-1 and 73-10 (1933):

These resolutions authorize the issuance of promissory notes and bills of exchange for U.S. currency. Indigenous Peoples financial institutions, under their sovereign status, can issue similar instruments based on these recognized legal frameworks.

 

B. Full Faith and Credit of the United States (Title 7 U.S.C. § 938, § 1928):

These statutes affirm that obligations, including those issued by Indigenous Peoples financial institutions, are backed by the full faith and credit of the United States, ensuring that such instruments are legally recognized and enforceable.

 

C. Commercial Law and Uniform Commercial Code (UCC):

  • UCC § 2-511: Payment may be made using checks, promissory notes, or bills of exchange, and these instruments must be accepted as valid tender.

  • UCC § 9-310, § 9-311, § 9-312: These sections govern the perfection of security interests, ensuring the protection of Indigenous Peoples financial institutions' interests in property transactions.

 

Acceptance and Processing of Instruments:

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1. Verification Process:

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  • Upon receipt of a negotiable instrument (e.g., cashier’s check, bill of exchange, promissory note) issued by an Indigenous Peoples financial institution, the bank must verify its authenticity.

  • The instrument can be authenticated by contacting the issuing Indigenous Peoples financial institution directly via phone, website, or email.

 

2. Legal Compliance, Deposit, Clearing, and Settlement:

​

  • Legal Compliance: Under U.C.C. § 2-511 and § 3-603, the instrument must be accepted as a valid tender if it meets all necessary criteria, such as legitimacy and full cash value backing. Any refusal to accept the instrument based on its origin (e.g., an Indigenous Peoples financial institution) would violate the Equal Credit Opportunity Act (1974), which prohibits discrimination in credit transactions.​

​

  • Bank Deposit: After the receiving bank has confirmed the instrument's authenticity, the seller must be able to deposit the cashier’s check, bill of exchange, or promissory note with their financial institution.

 

  • Clearing Process: The receiving bank handling the deposit is not obligated to present the instrument to Belay Empire's Indigenous Peoples financial institution for payment or clearance. This is because the cashier’s check, bill of exchange, or promissory note has already been issued in good faith for full cash value received, and its authenticity has been duly verified.

 

  • Settlement: Under the U.C.C. 4-206 provision for transfer between banks, any method agreed upon that identifies the transferor bank is sufficient for further transfer to another bank. In line with U.C.C. 4-213 on the medium and timing of settlement by a bank, the time of settlement may be defined by agreement, and when dealing with cash, cashier’s checks, or teller’s checks, settlement occurs when the cash or check is sent or delivered. Per U.C.C. 4-215, an item is considered finally paid by a payor bank once it has settled for the item without any right to revoke the settlement, whether under statute, clearinghouse rules, or by agreement.

 

3. Promissory Notes and Security Interests:

​

  • UCC §§ 9-310 to 9-312: Indigenous financial institutions may perfect their security interests in assets by filing the necessary documentation, similar to standard commercial transactions.

 

Sovereignty and Treaty Protections:

 

A. Sovereignty Recognition:

The United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) and historical treaties affirm Indigenous Peoples’ right to establish independent financial systems. Financial instruments issued by Indigenous financial institutions must be recognized as legitimate under both international and domestic laws.

 

B. U.S. and International Obligations:

  • U.S. statutes such as 11 U.S.C. § 1503 uphold the recognition of Indigenous sovereignty and Indigenous financial systems within domestic legal frameworks.

 

Regulatory Considerations:

 

A. Banking Regulations:

  • 12 C.F.R. § 204.2: Defines valid financial instruments for banking purposes.

  • 12 C.F.R. § 215.3: Regulates extensions of credit, supporting the acceptance of Indigenous Peoples financial instruments.

 

B. Self-Liquidating Paper and Transparency:

  • 17 C.F.R. § 260.11b-6: Recognizes "self-liquidating paper," which includes Indigenous Peoples financial instruments if liquidity standards are met.

  • 18 C.F.R. § 358.7: Requires transparency in financial transactions, particularly with novel instruments issued by Indigenous Peoples financial institutions.

 

Compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) Regulations:


While Belay Empire operates independently from U.S. federal oversight, it upholds high standards of transparency and compliance. Transactions facilitated by Belay Empire are subject to internal AML and KYC policies to ensure the legitimacy of participants and prevent illicit activities. We reserve the right to request additional documentation to verify identities and the source of funds in line with best practices.

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Dispute Resolution and Governing Law:


By this, any disputes arising from transactions involving Belay Empire’s financial instruments shall be resolved through arbitration. The arbitration will be conducted in accordance with Indigenous Peoples’ rules, laws, and customs by an Indigenous Peoples Arbitration Association or another mutually agreed-upon body. Both parties acknowledge that the interpretation and enforcement of the instruments shall be governed by Indigenous laws, principles, and customs, along with applicable provisions of the Uniform Commercial Code (UCC).

 

Transaction Risk Disclaimer and Limitations of Liability:


Belay Empire makes no representations or guarantees regarding the acceptance of its financial instruments by third-party institutions. Users of these instruments acknowledge the inherent risks involved in conducting transactions with non-traditional financial instruments. Belay Empire is not liable for any losses resulting from the refusal, delay, or failure of counterparties to process or accept these instruments.

 

Data Protection and Confidentiality Clause:


Belay Empire values the privacy and confidentiality of its clients. All personal data and financial information exchanged in the course of transactions shall be treated as confidential and will not be disclosed to unauthorized parties, except as required by law or with the client’s express consent.

 

Force Majeure Clause:


Belay Empire shall not be held liable for any failure or delay in performing its obligations due to circumstances beyond its control, including but not limited to natural disasters, government actions, civil unrest, technological disruptions, or other unforeseen events that prevent normal operations.

 

Notice of Evolving Financial Technology and Regulatory Compliance:


Belay Empire reserves the right to adjust its operations, instruments, and policies in response to technological innovations, regulatory developments, and shifts in Indigenous or international law. All parties transacting with Belay Empire agree to remain informed of any such changes that may impact their transactions.

Investment Products are:

  • Not Insured by Belay Empire or Any Federal Government Agency

  • Not a Deposit or Other Obligation of, or Guaranteed by, this Indigenous Peoples Financial Institution or Any Bank Affiliate

  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

BY THIS, BELAY EMPIRE EXISTS AS AN INDEPENDENT PRIVATE UNINCORPORATED INDIGENOUS PEOPLES FINANCIAL INSTITUTION.

Belay Empire are proud Non-FDIC Members

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