An “Inter Vivos gift” is a voluntary gift of stock, transferring shares from one living person to another without payment or other consideration. This means you cannot be promised or accept anything of value in exchange for the shares.

If you are 18 or older, you can gift CIRI shares to your child; grandchild; great-grandchild; niece; nephew; brother or sister. The family member who receives your gift must be Alaska Native or the Descendant of a Native and related to the giftor by blood or adoption, not by marriage. As defined in the Alaska Native Claims Settlement Act, an Alaska Native is a citizen of the United States who is a person of one-fourth degree or more Alaska Indian, Eskimo, or Aleut blood, or a combination thereof. Descendant of a Native is defined as a lineal Descendant of a Native or an adoptee of a Native or Descendant of a Native whose adoption occurred before they turned 18. You will need to submit legal documents providing proof of the relationship to the giftor which can include birth certificate(s), marriage certificate(s), adoption decree, etc.

There is no limit to the amount of shares a person can gift, though you cannot gift less than one share. Remember, if you do not keep at least one share, you may be ineligible for certain programs and benefits.

No. Once the gifting transfer is processed, it is irrevocable. This means you lose all rights to the shares and cannot get them back.

No, you do not. The recipient of the shares will have all voting rights, receive all distributions for those shares, and have the right to gift or will those shares. If they should die without leaving a will, the shares will go to that person’s heirs in accordance with Alaska law.