Cultures of Bristol Bay
Bristol Bay Native Corporation is a diversified holding company with investments and business holdings in oilfield and industrial services, petroleum distribution, government services, construction services and tourism.
BBNC has Eskimo, Aleut and Indian shareholders with ancestral ties to the Bristol Bay Region of Alaska, the world’s largest wild sockeye salmon fishery. BBNC’s mission is to enrich the lives of its shareholders through economic development, employment and educational opportunities, and responsible resource management.
Who is a shareholder?
Under the Alaska Native Claims Settlement Act, Alaska Native people became shareholders of 13 private corporations, and guide economic development within their regions. Individuals who were at least one-quarter Alaska Native could enroll, most of whom received 100 shares of stock. Those born after the original enrollment period in 1971 may receive stock by inheritance or court order. Shares may not be sold on the open market.
Amendments to ANCSA have allowed shareholders to decide if they want to allow children born after 1971 to become shareholders. While some of the corporations have adopted this, BBNC continues to study the issue.
Directors are elected, who guide the corporation in its business ventures and represent the interests of the shareholders. Shareholders also receive other benefits, such as dividends, educational and job opportunities, among other services.