Alaska National Bank of the North v. Gwitchyaa Zhee Corp.

OPINION

BURKE, Justice.

This ease calls upon us to review summary judgment decisions rendered in favor of Gwitchyaa Zhee and Toghotthele Corporations holding void and unenforceable purported security interests held by Alaska National Bank of the North (ANB or Bank) in certain funds on deposit with the Bank.

FACTS

Gwitchyaa Zhee and Toghotthele are village corporations organized pursuant to the provisions of the Alaska Native Claims Settlement Act, 43 U.S.C. § 1601 et seq. See 43 U.S.C. §§ 1602(j), 1607. Under the Act, the villages are subject to certain controls by their regional corporations, in…