(a) A state or national bank or a trust company, when acting in the state as a fiduciary or as a co-fiduciary with others, may with the consent of its co-fiduciary or co-fiduciaries, if any, who are hereby authorized to give such consent, cause any investment it holds as a fiduciary or co-fiduciary to be registered and held in the name of a nominee or nominees of the bank or trust company. The bank or trust company is liable for the acts of its nominee with respect to an investment registered in the nominee's name.
(b) The records of the bank or trust company must at all times show the ownership of the investment registered and held in the name of its nominee. The bank or trust company shall retain possession and control of the investment and keep the investment separate and apart from its assets.
Structure Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 05. Alaska Banking Code
Sec. 06.05.090. Certification of checks.
Sec. 06.05.095. Payment of items.
Sec. 06.05.100. Deposit of minor or person under disability.
Sec. 06.05.120. Notice of charges.
Sec. 06.05.145. Adverse claim to bank deposit.
Sec. 06.05.160. Transmitting money and foreign exchange.
Sec. 06.05.166. Legal holidays and closings.