Alaska Native Corporations

Alaska Native Corporations Synopsis

This book provides an overview of the Alaska Native Corporations. In 1971, the Alaska Native Claims Settlement Act was enacted to resolve long-standing aboriginal land claims and to foster economic development for Alaska Natives. This federal law directed that corporations be created under Alaska state law, which were to be the vehicles for distributing the settlement. As directed by the act, 12 for-profit regional corporations were established, representing geographical regions in the state. Later, a 13th regional corporation was formed to represent Alaska Natives residing outside of Alaska. Eligible Alaska Native applicants who were alive on 18 December 1971, became shareholders in the corporations. The Settlement Act, as amended, authorise the corporations to provide benefits to shareholders and to other Alaska Natives.