If a person who is a trustee of two or more trusts mingles the funds of two or more trusts in the same aggregate of cash or in the same bank or brokerage account or other investment, and if a withdrawal is made from the cash aggregate, account, or investment by the trustee for the trustee's own benefit, for the benefit of a third person who is not a beneficiary or creditor of one or more of the trusts, or for an unknown purpose, the withdrawal must be charged first to the amount of the personal cash, credit, or other property, if any, of the trustee in the mingled fund, and, after the exhaustion of the trustee's cash, credit, or other property, then to the several trusts in proportion to their several interests in the cash, credit, or other property in the cash aggregate, account, or investment at the time of the withdrawal. Nothing in this section is intended to authorize the mingling of trust funds.
Structure Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 36. Trust Administration
Sec. 13.36.070. General duty not limited.
Sec. 13.36.071. Accepting or rejecting trusteeship.
Sec. 13.36.073. Vacancy in trusteeship; appointment of successor.
Sec. 13.36.074. Resignation of trustee.
Sec. 13.36.076. Removal of trustee.
Sec. 13.36.077. Delivery of property by former trustee.
Sec. 13.36.078. Reimbursement of expenses.
Sec. 13.36.079. Certification of trust; penalty.
Sec. 13.36.080. Duty to inform and account to beneficiaries.
Sec. 13.36.090. Trustee's duty; appropriate place of administration; deviation.
Sec. 13.36.095. Personal liability of trustee to third parties.
Sec. 13.36.100. Limitations on proceedings against trustees.
Sec. 13.36.105. Powers attached to the office of trustee.
Sec. 13.36.107. General powers.
Sec. 13.36.109. Specific powers of trustees.
Sec. 13.36.110. Liability of trustee relating to exercise of power.
Sec. 13.36.120. Voting of corporate stock owned by trustee.
Sec. 13.36.125. Creation of trust bank account to pay special debts.
Sec. 13.36.130. Failure of beneficiary to present claim for payment.
Sec. 13.36.135. Holding stock in name of nominee.
Sec. 13.36.140. Loan of trust funds.
Sec. 13.36.145. Corporate trustee depositing trust funds with itself.
Sec. 13.36.150. Trustee leasing, buying, or selling to or from itself or a related person.
Sec. 13.36.153. Restrictions on exercising certain trustee powers.
Sec. 13.36.155. Permitted sales between trusts held by same corporate trustee.
Sec. 13.36.157. Exercise of power of appointment.
Sec. 13.36.158. Additional provisions relating to exercise of a power of appointment.
Sec. 13.36.159. Implementation of power of appointment.
Sec. 13.36.160. Corporate trustee buying its own or an affiliate's securities.
Sec. 13.36.165. Withdrawals from mingled trust funds.
Sec. 13.36.170. Unenforceable oral trust created by deed.
Sec. 13.36.175. Action on contract against trustee in representative capacity.
Sec. 13.36.180. Exoneration or reimbursement for tort.
Sec. 13.36.185. Tort liability of trust.
Sec. 13.36.190. Personal liability for tort committed by trustee.
Sec. 13.36.192. Power of settlor of trust.
Sec. 13.36.194. Power of beneficiary of trust.
Sec. 13.36.196. Relieving trustee of duties, restrictions, and liability; power of the court.