In October, 2015 we mailed out a letter and a survey to each shareholder. The purpose of the letter was to let shareholders know that the Board of Directors is considering a very important initiative. Should Deloycheet, Inc. enroll descendants of original shareholders? As Board members we do not want to make this decision without your input as a shareholder of Deloycheet, Inc. The Board of Directors plans to mail out two surveys and host two informational meetings on this subject in Holy Cross in April, 2016 and in Anchorage in July, 2016. If we have a majority of YES votes on the two surveys, we will add it to the Annual Meeting Ballot in October 7, 2016 at 5:00 p.m. If we have a majority NO votes on the two surveys, the Board of Directors will not consider this initiative and will not add it to the Ballot.
What we are considering is doing what Doyon, Ltd. has done and open enrollment to descendants of original Deloycheet, Inc. shareholders. The first survey sent out asked the following: Would you agree to enroll descendants of original shareholders? YES or NO or UNSURE.
Following are the results:
102 - Yes
43 - No
7 - Unsure
= 152 Total Surveys returned
We sent surveys to 550 shareholders and received 152 surveys back = 27% returned rate.
Descendent Enrollment Criteria
If the majority of shareholders vote YES in the surveys, and YES on the Ballot at the Annual Meeting, the Board of Directors will use the following criteria for opening the rolls to descendants. This is the same criteria that Doyon, Ltd. uses for their open enrollment.
- Allow issuance of new Class C (Children) stock at no charge to qualified Alaska Natives or descendants of one-quarter blood quantum born after 1971.
- 30 shares would be issued when they are first enrolled and the remaining 70 shares would be issued when they turn 18 years old. Voting rights would begin once the child reaches 18 years old.
- Children can only be enrolled to one Village Corporation under this provision.
- In the event another Village Corporation opens its roll to descendants and a current enrolled Deloycheet, Inc. descendant is also eligible to enroll to that Corporation, there would be a provision for dis-enrolling in Deloycheet, Inc. so they could enroll in the Corporation of their choice.
If the majority of shareholders vote NO on the surveys, it will not go on the Annual Meeting Ballot.
- Original shareholders will continue to have the option to GIFT shares to descendants through the current Deloycheet, Inc. Gifting Program.
- An important method is to make sure you have a current WILL filed with Deloycheet, Inc. so your shares will go to your descendants as you wish.
To take advantage of either gifting shares or updating your will, please call Dorothy Walker, Shareholder Services Administrator at (907) 476-7177.