(a) A trust company that is the victim of a robbery, that has a shortage of money or other assets in excess of $5,000, or that is the victim of an apparent or suspected misapplication of its money or other assets in any amount by a director, an officer, or an employee shall report the robbery, shortage, or apparent or suspected misapplication to the department within 48 hours after it is discovered. The initial report may be oral if the trust company promptly confirms the report in writing to the department. The trust company or a director, an officer, an employee, or an agent of the trust company is not liable for defamation to or subject to any another cause of action based on supplying the information in the report.
(b) A trust company may satisfy the requirements of (a) of this section by filing with the department a copy of a written report filed with the appropriate law enforcement agency.
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.