FAQ Category: Frequently Asked Questions

Chugach does not know the number at this time. The number of new shareholders will depend on how the enrollment is structured. For example, Chugach could limit eligibility to lineal descendants who are at least 18 years of age. It could also limit the time period for enrollment.

It will probably mean that your dividends will be reduced by some amount. As the profits of CAC continue to grow, your dividends will also continue to grow, but likely not as fast as they would have without open enrollment.

It is difficult to say for sure. But open enrollment would increase the shareholder base of CAC to include the next generations. This will provide our children with a stronger connection to our culture and provide a larger base for future leadership.

We have the option of opening enrollment indefinitely – which means we would continue enrolling descendants as they are born forever, or until such time that the shareholders vote to close it. Or, we could establish a number of shares we want to distribute, and when we reach that number we would stop enrollment. Or, another option is to offer enrollment for a specified period of time – such as 10 or 20 years.

Some restrictions may be applied to when new enrollees receive their stock. For example, one ANC allows a new enrollee to receive their shares once they turn 18 if they have graduated from high school; otherwise, they must wait until they are 21. Another ANC gives 30 shares immediately upon enrollment and the remaining 70 of their 100 total when the enrollee turns 18.

Another important decision will be whether or not to allow shareholders of other ANCs to apply to enroll in CAC. Most of the corporations that are now doing an enrollment do not allow descendant enrollment for those who belong to another ANC.

This is another option provided by the 1991 Amendments. New stock can be made available to descendants who are at least ¼ Alaska Native blood quantum like the original stock is now; or the new stock can be made available to a direct descendant such as a child, grandchild or great-grandchild – as long as the new enrollee has a direct line to an Original Shareholder and could require no blood quantum.

New stock may be made “inheritable” which means it can be passed on to descendants just as original stock is allowed to be now; or “life estate” which means that when the new enrollee dies, the stock is retired and ceases to exist. This option was created to help protect the original stock forever. Original stock will always be inheritable and giftable as it is now. That will never change. By creating the new stock as “life estate,” it offers the stock owner a chance to be connected to the corporation, receive dividends, vote in annual meetings and enjoy all the benefits of being a shareholder without a permanent change to the original stock.

Corporations may offer up to 100 shares to each new enrollee. There may be some concern that if descendants receive 100 new shares, some of them may have more shares than the Original Shareholders since the Original Shareholders may have been gifting their shares to their descendants already. Once original shares have been gifted, they cannot be taken back or re-gifted to someone else. If that turns out to be a major concern, CAC could offer less than 100 shares to each new enrollee.