It is important that NNAI keep shareholder information current and up to date. It is the shareholder’s responsibility to contact the main office with any changes in address or name. This can be done by completing an Address/Name Change Form and submitting the proper accompanying documentation.
It is also important for every shareholder to have a NNAI Stock Will on file. Once a stock will has been filled out, signed and notarized, it acts as a binding last will and testament to govern what happens to a shareholder’s stock in the event of their passing. In the event that a general will is signed by the shareholder thereafter specifically distributing the NNAI stock, that will becomes the new governing factor for a shareholder’s NNAI estate settlement. You may revoke your current Stock Will at any time by completely creating and filing a new one. If no will can be found NNAI will consult the Alaska Statutes regarding the situation to determine reallocation of the stock.
When ownership of NNAI stock transfers to a non-native, the stock becomes non-voting until ownership is once again vested in a native.
Shareholder stock can also be transferred by an inter-vivos gift from a holder to his/her child, grandchild, great-grandchild, niece/nephew or brother/sister. The receipient of the shares transferred by such a gift must be a Native or a descendant of a Native. To initiate the transfer of stock please visit our “Gifting” page.