Kavilco Incorporated is a village corporation within the Sealaska region organized pursuant to the Alaska Native Claims Settlement Act (“ANCSA”). Contributed capital includes receipts from the U.S. government and the state of Alaska under provisions of ANCSA.
Under Section 12(a) of ANCSA, on December 5, 1979 the Company received entitlement to surface estate of real property totaling approximately 23,055 acres. In 1987, 194 acres of Kavilco’s real property were distributed to the shareholders in the form of individual lots of 1.4(+/-) acres in size, and the timber rights on the remaining 22,861 acres were sold. However, Kavilco retains all other rights to the surface estate of the real property. On November 1,1989, Kavilco Incorporated began operating as a self-managed, closed-end management investment company, as defined by the Investment Company Act of 1940 (the Act).