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Gifting of Shares

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Under the terms of ANCSA, shareholders who are at least 18 years of age are able to gift to a child, grandchild, great grandchild, niece, nephew, brother, or sister. Recipients must be related by birth or legal adoption before the recipient turned 18 years of age. By law, the recipient of shares must be Alaska Native as defined under ANCSA. To complete a gifting of shares, the shareholder must submit the Gifting Packet to Shareholder Services with the required documents for proof of relationship and proof of Alaska Native blood quantum.

Under ANCSA amendments, shareholders cannot gift shares to parents, spouses, or relatives by
marriage.

By law, the recipient of shares must be Alaska Native as defined under ANCSA.

 

Policy:

  • Shareholder gifting shares must be 18 years or older. Minor shareholders are not eligible to gift shares until they reach the age of majority.
  • Guardians, custodians, or POA’s are not eligible to gift shares on behalf of a shareholder.
  • Shareholders who have a hold or court order (i.e. child support, IRS garnishment, etc.) are restricted from gifting their shares until the hold order is lifted and the corporation has been accordingly notified.
  • The gift of shares is irrevocable once transferred.
  • The gift must be made in whole shares not fractional shares.
  • Shares may be gifted in any whole number less than or equal to the amount of shares owned.
  • Please note that if you gift all of your shares you will be dis‐enrolled from the corporation and will no longer be eligible for voting, dividends, shareholder preference, and any other shareholder benefit.
  • Gifting requests are valid for 90 days. If a giftee does not complete the enrollment process in that time, the gifting request is no longer valid and a new gifting request must be completed in order to proceed.
  • If you change your mind and the gifting transfer has not been processed, a gifting request can be cancelled by the shareholder by submitting a cancellation request in writing.
  • The gifting recipient must submit a notarized Affidavit of Acceptance form within 90 days for the transfer to be processed.