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Arctic Education Foundation Questions:
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Human Resources Questions:
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Enrollment Program Questions:
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When did the enrollment program start?
The enrollment program opened for enrollment in April, 1990.
How many classes of stock were authorized?
1,000,000 shares of Class C
500,000 shares of Class D
10,000 shares of Class E
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Is there a deadline for enrollment?
There is no deadline for enrollment.
Unless the ASRC Board of Directors or shareholders vote otherwise, enrollment will continue until the authorized shares are used up.
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Can you review the Terms and Conditions for enrollment?
An individual is eligible to receive Class C, D and E stock only if he or she is a descendant of a Native and both a citizen and resident of the United States.
The parents of an applicant, natural or adoptive, must hold Class A, B, C, D or E stock which was originally issued directly to that parent by ASRC. This does not include shareholders whose only shares were received by inheritance, gift or other permitted transfer.
An applicant is eligible to receive Class E stock only if he or she was eligible to enroll in the Arctic Slope Region during the original enrollment period but was not so enrolled and did not enroll in any other region. The original enrollment period opened upon enactment of ANCSA and closed March 30, 1973.
The definition of a "Native" as outlined in ANCSA is:A citizen who is at least ¼ Native blood. Includes Natives adopted by non-Natives. A decision by the U.S. Secretary of the Interior regarding classification as a Native is final.
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Descendant of a Native - a citizen of the U.S. who is (a) a lineal Descendant of a Native (ASRC shareholder) or of an individual who would have been a Native if such individual were alive on December 18, 1971, or (b) an adoptee of a Native or of a Descendant of a Native whose adoption occurred prior to 18 years of age.
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Are there any other enrollment requirements that shareholders should know about?
An applicant is required to:
- Complete an enrollment application
- Include a certified copy of a birth certificate
- Complete a custodial consent form
- Include a copy of his/her social security card
- If adopted, include a copy of the adoption decree
- Complete a family tree form
- All of the documents required have to be mailed to the stock department in Barrow.
- Enrollment applications are approved by the corporate secretary in the Barrow office.
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Transfer of Shares Questions:
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Are there different ways for ASRC shares to be transferred?
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Shares can be transferred by gift, will inheritance or by court order.
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Can all classes of stock be transferred?
When did the enrollment program start?
Class A, B and E stock can be transferred by will, inheritance, gift of stock, or
court order..
Class C and D stock can be transferred by gift only.
Class C and D stock are cancelled at the death of the original holder.
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What are the procedures for transferring stock?
At the death of the holder shares of Class A, B or E stock are transferred according to a will or testamentary disposition and if the shareholder does not have a will, or did not fill out the testamentary disposition, the shares are transferred by Intestate Succession (State Law).
The corporation requires the following documents before review for transfer of shares:
- Copy death certificate
- Completed "Affidavit of Heirship", at least two separate affidavits are requested from heirs or other family members
- Original stock certificates
- Copy of the shareholder's will
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Would you explain the importance of having a will?
If a Class A, B or E shareholder dies intestate, (no will or testamentary disposition), ASRC is required to determine the heirs through the Alaska laws of intestate succession.
This procedure can take months because of the length of time it takes to gather information from possible heirs of the deceased shareholder.
Information received from an "Affidavit of Heirship" is used to identify the legal heirs of the deceased shareholder.
The easiest and fastest way to do a transfer of shares to heirs is to follow the instructions left by the deceased in a formal will or a completed testamentary disposition that is available on the back of each stock certificate.
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What is the difference between a will and testamentary disposition?
A will is a formal document that gives instructions on how the deceased would like his estate distributed to his heirs. Before ASRC can transfer shares according to a last will, the will has to be probated in court. This can take several months.
A testamentary disposition is a form on the back of a stock certificate that allows a shareholder to name who will receive his or her ASRC stock. A testamentary disposition does not require court action, so this process is the easiest and fastest way for shares to be transferred.
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Would you explain gift of stock?
Gift of stock is a process that can be used to transfer shares. Shares may be transferred by gift, if the holder is 18 years old or older.
According to ANCSA shares can only be gifted to:
- His or her child
- Grandchild
- Great-grandchild
- Niece
- Nephew
- Brother
- Sister
- Any such relative who were adopted in or out of the holder's family, regardless of whether parental or inheritance rights were terminated.
Gift of stock can not be made to the holder's spouse, parent, cousin or any other relative, not listed above.
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Can a shareholder give back stock to the original holder?
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Once shares are transferred by gift the shares cannot be gifted back to the original holder.
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Village Meeting Questions:
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More Information
Should you have any questions or seek additional information about ASRC and its family of companies please contact ASRC at:
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Anchorage Office
Arctic Slope Regional Corporation
3900 C Street , Suite 801
Anchorage, AK 99503-5963
Phone: 907-339-6000
Fax: 907-339-6028
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Barrow Office
Arctic Slope Regional Corporation
P.O. Box 129
Barrow, Alaska 99723
Phone: 907-852-8633
Fax: 907-852-5733
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