Huna Totem Corporation shareholders adopted open enrollment last week at the village corporation’s annual meeting. That means that lineal descendants of original shareholders can now enroll and receive their own shares in the corporation.
The vote wasn’t close — 71% of voters approved opening enrollment to descendants.
“It’s a recognition that we’ve got a future generation of leaders that are ready to come in and put their fingerprints on the future of not only the company, but of our culture and our heritage,” said Huna Totem CEO Russell Dick.
He said the board discussed opening enrollment for decades.
“They just said, ‘Look, this is time to get this done.’ It’s been 50 years of ANCSA, and it’s time for us to recognize the future generation.”
The Alaska Native Claims Settlement Act, or ANCSA, passed in 1971, creating the Alaska Native corporation system. It limited shareholders to those born before it became law — for Huna Totem, that was roughly 1,650 people.
Until now, those original shareholders could gift shares to their family members or leave them to their descendants in their will. But often, their shares would be divided among multiple children, leaving younger generations with unequal shares to their parents and grandparents, Dick said.
“And for us to be able to come out and say, ‘you are a regular shareholder of this company, here’s what that means: you are the next generation of leaders for Huna Totem Corporation, the community of Hoonah,’ I think it’s a huge, huge thing,” he said.
Each descendant who enrolls will receive 100 shares, the same number as the original shareholders. Huna Totem did a study to see how many people qualify, and it estimated that 1,540 descendants of original Huna Totem shareholders are eligible.
Sealaska — Southeast Alaska’s regional Alaska Native corporation — opened enrollment to descendants in 2007, and removed its blood quantum requirement that limited the enrollment of people with mixed heritage in 2022. Huna Totem may be the first village corporation in Southeast Alaska to open enrollment.
Several corporations throughout Alaska have made similar moves in recent years.
