The board of a trust company is responsible for the proper exercise of fiduciary powers by the trust company and for each matter that is related to the exercise of fiduciary powers, including
(1) the determination of policies;
(2) the investment and disposition of trust assets; and
(3) the direction and review of the actions of each officer, employee, and committee employed or used by the trust company in the exercise of its fiduciary powers.
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.