# Alaska Stat. § 13.46.085: Native corporations; custodians

> Alaska · Statutes · Reserved

URL: https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.085

## Section

- **Citation:** Alaska Stat. § 13.46.085
- **Heading:** Native corporations; custodians
- **Jurisdiction:** Alaska
- **Kind:** Statutes
- **Status:** Reserved
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AK Code / Title 13 / Chapter 13.46 / Section 13.46.085

## Text

(a) The stock or membership in a corporation organized under the law of this state under 43 U.S.C. 1601 et seq. (Alaska Native Claims Settlement Act) that a minor is entitled to receive under that Act shall be held by a custodian.

(b) A person making a transfer of stock, whether by gift, devise, or other method, may nominate a custodian. In the absence of a nomination, the custodian shall be determined under the order of priority set out below. The appointment becomes effective upon the corporation's receipt of the custodian's written consent to the appointment. The order of priority is:

(1) the legal guardian, if any, of the minor;

(2) a parent, if any, of the minor, as selected by the parents;

(3) an adult member of the minor's family; in this paragraph, “member of the minor's family” has the meaning given in AS 13.46.990 , and also includes members of a family with whom the minor has customarily lived.

(c) For good cause, a district court or the superior court may vary the order of priority set out in (b) of this section or appoint another suitable person as custodian.

(d) The custodianship is governed by this chapter, as modified by the following:

(1) [Repealed, § 12 ch 60 SLA 1992.] (2) under AS 13.46.150 , a third person is responsible for determining whether stock is inalienable under the Act;

(3) the custodian shall give an appropriate receipt for property received for the minor;

(4) the custodian may not alienate inalienable property except within the limits provided by law;

(5) the form of registration or title shall be “as custodian for _____________________________________ (name of minor) under the Alaska Native Claims Settlement Act”;

(6) a custodian may not receive compensation except, upon application to and approval by the superior court, for unusual and extraordinary services;

(7) custodial property includes securities, money, and other real and personal property under supervision as a consequence of the Act.

(e) Notwithstanding AS 13.46.190 , the stock shall be transferred to the minor when the minor reaches 18 years of age, or to the minor's heirs if the minor dies before reaching 18 years of age.

(f) In this section,

(1) “Act” means 43 U.S.C. 1601 et seq. (Alaska Native Claims Settlement Act);

(2) “minor” means an individual who is less than 18 years of age;

(3) “stock” means the stock or membership in a corporation that is organized under the law of this state under the Act and that a minor is entitled to receive under the Act, whether by gift, devise, or other method; “stock” includes inchoate rights to stock.

## Nearby sections

- [Alaska Stat. § 13.46.010 Scope and jurisdiction.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.010.md)
- [Alaska Stat. § 13.46.020 Nomination of custodian.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.020.md)
- [Alaska Stat. § 13.46.030 Transfer by gift or exercise of power of appointment.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.030.md)
- [Alaska Stat. § 13.46.040 Transfer authorized by will or trust.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.040.md)
- [Alaska Stat. § 13.46.050 Other transfer by fiduciary.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.050.md)
- [Alaska Stat. § 13.46.060 Transfer by obligor.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.060.md)
- [Alaska Stat. § 13.46.070 Receipt for custodial property.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.070.md)
- [Alaska Stat. § 13.46.080 Manner of creating custodial property and effecting transfer; designation of initial custodian; control.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.080.md)
- [Alaska Stat. § 13.46.085 Native corporations; custodians.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.085.md)
- [Alaska Stat. § 13.46.090 Single custodianship.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.090.md)
- [Alaska Stat. § 13.46.100 Validity and effect of transfer.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.100.md)
- [Alaska Stat. § 13.46.110 Care of custodial property.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.110.md)
- [Alaska Stat. § 13.46.120 Powers of custodian.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.120.md)
- [Alaska Stat. § 13.46.130 Use of custodial property.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.130.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AK_T13_C13.46_S13.46.085. Check the current official text before relying on it. Not legal advice.