1. Short title This Act may be cited as the ANCSA Fractional Shares Consolidation Act of 2017 . 2. Fractional shares (a) In general Section 7(h) of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1606(h) ) is amended— (1) in paragraph (2)(A), by inserting , subject to paragraph (4) after pursuant to applicable laws of intestate succession ; (2) by redesignating paragraph (4) as paragraph (5); and (3) by inserting after paragraph (3) the following: (4) Fractional shares (A) In general Notwithstanding any State law regarding fractional shares, a Regional Corporation is authorized to issue a full share of any class of stock, for no consideration, in exchange for a fractional share of the same class of stock, held by any shareholder, as long as the Regional Corporation exchanges all fractional shares of a class of stock for full shares of the same class of stock at the same time. (B) Elimination of fractional shares A Regional Corporation shall be authorized, after taking the action specified in subparagraph (A) for any class of stock, to adopt, by resolution of the board of directors of the Regional Corporation, a policy that provides for the elimination of fractional shares that would result by will or the laws of intestate succession by— (i) issuing a full share in lieu of any fractional share that would otherwise result from the application of a will or the intestacy laws