Stock Wills

The death of a loved one can be overwhelming to family and friends. Having a current CIRI Stock Will on file with CIRI helps ensure your CIRI stock is transferred to the individual(s) or organization(s) you choose and helps the estate process flow more smoothly.

CIRI urges its Shareholders to update their will(s) after giving or receiving a gift of stock, upon the death of someone who you have chosen to leave some or all of your CIRI stock to or if additional shares are inherited. Marriage, divorce, the birth or adoption of a child and other life changes are also reasons to complete a new will.

Notary assistance may be found by visiting CIRI’s Shareholder Relations Department, where members of the Probate team and/or Shareholder Relations can assist in witnessing and notarizing your CIRI Stock Will. We encourage you to contact CIRI probate staff at (907) 263-5540 or toll-free at (833) 263-5136 to schedule an appointment for this service, and you will need to bring a copy of a current photo ID.

You may also visit your local bank and, in Alaska, US postmasters are also authorized to act as a notary but must follow certain guidelines set out by Alaska law, including inclusion of their title as postmaster when signing.

If you need a copy of your existing CIRI Stock Will on file, please contact the CIRI probate staff at (907) 263-5540 or toll-free at (833) 263-5136.

Fractional shares are created when a single whole share is or was divided as part of settlement of a CIRI stock estate. As of June 2012, it is CIRI’s policy to disallow the creation of new fractional shares and to freeze any existing share fractions. In other words, existing share fractions will not be further divided, and single shares will not be split.

CIRI’s Shareholders should consider this fractional share policy when completing a new CIRI Stock Will.

CIRI will not split share fractions.

Any existing share fraction must be directed to one beneficiary.

For example: If you own 10.5 shares and wish to split those shares as equally as possible between two people, write in 5 shares for one person and 5.5 for the other person. Your shares may not be divided so that each person receives 5.25 shares of stock.

CIRI will distribute stock in whole shares only.

If the number of shares you own will not divide equally in whole shares among your selected beneficiaries, indicate the beneficiary(ies) who should receive the larger portions.

For example: If you own 100 shares and wish to split those shares as equally as possible among three people, write in 33 shares for two people and 34 shares for one person.

Please contact the CIRI Probate team at (907) 263-5540 or toll-free at (833) 263-5136 if you have question regarding fractional shares.

Yes. Shareholders may devise (leave) their CIRI stock by will to any person(s) of their choosing. There is no requirement for a recipient to be Alaska Native or a relative. However, any inheritor who is not Alaska Native or a proven descendant of an Alaska Native (as defined by ANCSA) will receive non-voting stock. Then, upon his/her death, the shares would once again carry voting rights if inherited by an Alaska Native or descendant of an Alaska Native. CIRI stock left to a trust or an organization will also be non-voting.

Maybe. The laws and legal rules associated with the distribution of CIRI stock through a general will can be complex. As such, CIRI strongly encourages its Shareholders speak to with an attorney before attempting to devise (leave) CIRI stock through a general will. The easiest way to ensure your shares are transferred in accordance with your wishes is to keep an up-to-date stock will on file with CIRI.