The initial issue of stock of a corporation organized under Alaska law under 43 U.S.C. 1601 et seq. (Alaska Native Claims Settlement Act) is not a sale of a security under AS 45.56.100 and 45.56.900(29).
AS 45.55.138
Application to Alaska Native Claims Settlement Act corporations
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.