Control of an exempt private trust company may not be sold or otherwise transferred with an exemption under AS 06.26.200. In any change of control, the exempt status of the private trust company automatically terminates on the effective date of the transfer, and the person acquiring control must comply with this chapter. After transfer of control, a separate application for an exemption under AS 06.26.200 must be filed with the department if the acquiring person wishes to obtain or continue an exemption under AS 06.26.200.
Structure Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 26. Revised Alaska Trust Company Act
Article 4. Private Trust Companies.
Sec. 06.26.200. Private trust companies.
Sec. 06.26.210. Requirements to apply for and maintain status as a private trust company.
Sec. 06.26.220. Transfer of control.
Sec. 06.26.230. Revocation of exemption.