Tag: OC Stock Will
As an Ounalashka Corporation shareholder, you are encouraged to execute an OC Stock Will to ensure that your OC stock will be distributed in the desired manner. It is important to update your OC Stock Will upon the death of a designated heir, after giving or a gift of stock, marriage, divorce, the birth or adoption of children and/or other life changes.
Effective as of July 1, 2018 distributions of OC stock are in whole shares only. Example: if you own 100 shares and wish to leave your stock to three heirs, the stock will need to be split as follows: 33, 33 and 34. Or, if you own fractions of shares (i.e. 3.333) the fractional shares cannot be broken down further. The shares would need to be split 1, 1 and 1.333.
ADDITIONALLY, EFFECTIVE AS OF JUNE 2017, IF YOU CHOOSE TO LEAVE ANY PORTION OF YOUR OC STOCK TO A NON-NATIVE THEY WILL NOT RECEIVE ANY UNITS IN THE OUNALASHKA SETTLEMENT TRUST. WHICH MEANS – AS OF JUNE 2017 NON-NATIVE SHAREHOLDERS CANNOT INHERIT TRUST UNITS IN THE OUNALASHKA SETTLEMENT TRUST, AND THEREFORE, WILL RECEIVE NO MONETARY DISTRIBUTIONS FROM THE TRUST.Read More