TN 29 (07-90)

SI 01120.105 Certain Stock in Alaska Regional or Village Corporations

Citations:

Act as amended, section 1613(a)(5);

20 CFR 416.1228

A. Policy principles

1. Stock Not Transferable

The term “resources” does not include shares of stock held by a native Alaskan in a regional or village corporation during the 20-year period in which the stock is inalienable (nontransferable) under sections 7(h) and 8(c) of the Alaska Native Claims Settlement Act (ANCSA).

2. Stock Becomes Transferable

Effective January 1, 1992, this stock becomes transferable and will then meet the definition of a resource. However, a statutory exclusion applies (SI 00830.830).

B. Development and documentation

If your office is in the Seattle Region,refer to regional instructions on ANCSA. If a case arises outside that region, use Seattle regional instructions. You can obtain additional information by contacting the Seattle RO through your own RO.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0501120105
SI 01120.105 - Certain Stock in Alaska Regional or Village Corporations - 09/26/2014
Batch run: 09/26/2014
Rev:09/26/2014