Choggiung announces the Board of Directors approval of Resolution 2022-19, authorizing contribution of land to the Choggiung, Limited Settlement Trust (CLST or Trust). The 46,746 acres of land located east of the Wood River and North of the Nushagak River will be contributed to the trust in early 2023. One of the many benefits of the Trust is the ability to convey land into it, which allows Choggiung to capitalize long term on the conveyance and better protect and enhance the corporation’s most valuable asset, its land and resources.
The CLST, pursuant to the Alaska Native Claims Settlement Act (ANCSA), was established by a vote of the shareholders at a special meeting on January 5, 2019.The sole purpose of the Trust is to promote the health, education, and welfare of the Beneficiaries and preserve the heritage and culture of Natives. Funding for the Trust comes from earnings and contributions from Choggiung Limited and distributions are tax-free to shareholders. All shareholders of Choggiung Limited are beneficiaries of the CLST.
