In the event that NNAI Stock is transferred to a minor party, either through an Inter-Vivos Gift or the settlement of an Estate, a custodian must be appointed to oversee and guide any transactions and monetary distributions that those shares and that shareholder may receive or be responsible for.
Being a custodian is an important job and one that should not be taken lightly. To help those who may become custodians to fully understand this we have made a Custodian Information Handout – it is strictly for reference and we advise you to seek a professional legal opinion before committing to a custodian position.
As a custodian it is your responsibility to keep NNAI informed of the current name and address of your ward via the NNAI Address/Name Change Form.
Upon reaching the age of majority, a NNAI Shareholder who has been a Custodial Ward becomes a Non-Custodial Shareholder. The age of majority for Alaska is 18 years. When NNAI learns that a Custodial Shareholder has reached the age of majority a new stock certificate will be issued in the name of the Shareholder with no custodian. A newly Non-Custodial Shareholder must fill out a Social Security Number Certification form for themselves as the currently responsible taxpayer. They are now also responsible for keeping NNAI informed of any name changes or moves via the Address/Name Change Form.