Shareholders

Alaska Native Claims Settlement Act (ANCSA): A law created by the United States Congress in 1971 that created regional and village Native Corporations and provided for each corporation to select a portion of Alaska’s land. The law includes a number of rules regarding who may own stock in a Native Corporation, and what that person can do with his/her stock. Original Shareholders were identified from the December 1971 Tribal Rolls and new Shareholders can only be added through Inter vivos gift from a current Shareholder or inheritance from a deceased Shareholder. Celebrate 50 years of the Alaska Native Claims Settlement Act (ANCSA) with a documentary produced by the ANCSA Regional Association. The film looks back at the first 50 years of ANCSA using historical footage and photos and captures a glimpse of what’s to come through interviews with Alaska Native leaders, policymakers, and culture bearers.

ANCSA: Our People. Our Land. Our Future.

Federal law (43 U.S.C. 1606(h)((1)(C)) limits a Shareholder’s power to make a gift of his/her Eklutna, Inc. stock. A copy of 43 U.S.C. 1606(h)(1)(C) is attached as Form 2.1. Subject to compliance with the applicable statutes, a Shareholder may give some of his or her shares of stock in Eklutna, Inc. only to the Shareholder’s:

1. Child
2. Grandchild
3. Great Grandchild
4. Niece
5. Nephew
6. Brother (if the Shareholder is at least 18 years of age)
7. Sister (if the Shareholder is at least 18 years of age)

This list includes children legally adopted into the Shareholder’s family, provided the adoption occurred before such children were 18 years of age and the Shareholder is able to furnish the required documentation.

In addition to being within one of the categories named above, the recipient must also be a Native or a Descendant of a Native who is related to the donor (the Shareholder giving the gift of stock) by blood or adoption, and not simply by marriage. ANCSA (43 U.S.C. §

1602) defines “Native” and “Descendant of a Native” as follows:

Native: A citizen of the United States who is a person of one-fourth degree or more Alaska Indian (including Tsimshian Indians not enrolled in the [Metlakatla] Indian Community), Eskimo, or Aleut blood, or a combination thereof. The term includes any Native as so defined either or both of whose adoptive parents are not Natives. It also includes, in the absence of proof of a minimum blood quantum, any citizen of the United States who is regarded as an Alaska Native by the Native village or Native group of which he claims to be a member and whose father or mother is (or, if deceased, was) regarded as Native by any village or group. Any decision of the Secretary regarding eligibility for enrollment shall be final.

Descendant of a Native: A lineal descendant of a Native or of an individual who would have been a Native if such individual were alive on December 18, 1971; or an adoptee of a Native or of a descendant of a Native, whose adoption (A) occurred prior to his or her majority, and (B) is recognized at law or in equity.

The donor, recipient, or both must provide Proof of Status as a Native or Descendant of a Native.

If a Shareholder wishes to gift shares, they may download the forms through their Shareholder Portal or contact Shareholder Relations to request a gifting packet.