A trust company shall adopt written policies and procedures regarding decisions or recommendations to purchase or sell a security that is a trust asset to facilitate compliance with federal and state securities laws. These policies and procedures must include the prohibition in AS 06.26.580(b).
Structure Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 26. Revised Alaska Trust Company Act
Sec. 06.26.500. Voting securities held as trust assets.
Sec. 06.26.510. Board of directors.
Sec. 06.26.520. Board meetings and review of reports.
Sec. 06.26.540. Prohibition of certain action by officer or employee.
Sec. 06.26.550. Trust committee.
Sec. 06.26.560. Prohibited acts.
Sec. 06.26.570. Transactions with management and affiliates.
Sec. 06.26.580. Trust asset transactions involving certain securities, assets, or information.
Sec. 06.26.585. Policies and procedures.
Sec. 06.26.590. Fiduciary responsibility.
Sec. 06.26.600. Trust account record keeping.
Sec. 06.26.610. Customer records confidential.