Regional Alaska Native Corporations

Download or read book Regional Alaska Native Corporations written by U. S. Government Accountability Office and published by . This book was released on 2019-07-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 December 18, 1971, became shareholders in the corporations. The Settlement Act, as amended, authorizes the corporations to provide benefits to shareholders and to other Alaska Natives. GAO was asked to review these corporations.