Cash Prizes to Shareholders with Stock Wills on File
In an effort to increase the number of Doyon, Limited shareholders with current stock wills and addresses on file, Doyon will be holding quarterly cash prize drawings. Have a stock will on file with Doyon? You will automatically be entered to win quarterly cash prizes! Don’t have one yet? Contact the records department to get your stock will completed and be entered to win.
Doyon will be making house calls this summer for elderly or homebound shareholders within the Fairbanks and surrounding area. Home visits can be arranged by contacting the records department at 1-888-478-4755 ext. 2040 (toll-free) or 459-2040 (in Fairbanks).
To be entered in the quarterly drawing, shareholders must have a valid stock will and correct mailing address on file with Doyon. Each quarter, Doyon will award one $300 cash prize, one $200 cash prize, and five $100 cash prizes.
The first drawing took place on June 30, 2016. Congratulations to the following winners:
- Patrick W Adams Sr., $300
- Renee Paniptchuk, $200
- Joanie Kalmakoff, $100
- Charlene C Fisher, $100
- Tiffani Pearson, $100
- Candace D Clark, $100
- Gordon I Mitchell, $100
Additional drawings will take place September 30, 2016, December 30, 2016, and March 30, 2017.
Completing a stock will is important to ensure that shares are transferred according to the shareholder’s wishes and that their descendants inherit their shares. Following are definitions of some common terms related to wills and transferring shares:
Stock Will: A stock will enables shareholders to legally pass their Class A, B and D shares on to whomever they wish. This is accomplished by completing the will on the back of the stock certificate or completing the Doyon Testamentary Revocation of Disposition, which is another form of stock will.
General Will: A general will completed with another agency or attorney may be taken into account when passing on an individual’s shares to heirs, if Doyon shares are specifically mentioned in the general will or if it contains a residual clause.
Intestacy: Shareholders who do not have a will, either stock or general, will have their shares distributed by the Alaska State Laws of Intestacy. This means the shareholder’s closest relative(s) will receive their shares.
Life Changes: Life changes, such as marriage, birth, death or divorce, affect both stock and general wills. Doyon recommends that shareholders review and, if necessary, update their stock will every three to five years.
Validating: Validating a stock will is as important as completing it. If a stock will received by Doyon’s shareholder services department proves to be invalid, a copy of the invalid stock will, along with reasons for its lack of validity, will be returned to the shareholder. Doyon will also send a blank correction form to complete. If a corrected stock will form is not returned, the shares may not be transferred to the person(s) designated.
Gifting: This is an option for shareholders who own class A, B or D shares. There are specific family members to whom a shareholder may gift their class A, B or D shares. Specific family members are eligible to receive shares as a gift under the Alaska Native Claims Settlement Act (ANCSA).
For any questions or concerns, please contact shareholder records at 1-888-478-4755 ext. 2040 (toll-free) or 459-2040 (in Fairbanks).