(a) If at least one qualified person serves as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035(c), then the following persons also may serve as trustees even though they are not qualified persons:
(1) individuals who do not reside in the state;
(2) trust companies that have their principal place of business outside the state and that are not organized under AS 06.26; and
(3) banks that have their principal place of business outside the state or that are not organized under AS 06.05.
(b) Notwithstanding other provisions of law to the contrary, a trustee who is not a qualified person is not considered to be engaging in business in this state solely by reason of serving as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035(c).
Structure Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 36. Trust Administration
Article 5. Miscellaneous Provisions.
Sec. 13.36.300. Administration of certain trusts with respect to federal law.
Sec. 13.36.310. Challenges to trusts.
Sec. 13.36.320. Nonqualified persons serving as trustees.
Sec. 13.36.330. Penalty clause.
Sec. 13.36.335. Application of special distribution provisions.
Sec. 13.36.338. Presumption of revocability.
Sec. 13.36.340. Modification and revocation of revocable trusts.
Sec. 13.36.350. Reformation to correct mistakes in irrevocable trusts.
Sec. 13.36.355. Construction or modification of trust to achieve settlor's tax objectives.
Sec. 13.36.360. Modification or termination of irrevocable trust by consent.
Sec. 13.36.365. Uneconomical irrevocable trust.
Sec. 13.36.368. Claims against revocable trusts.
Sec. 13.36.370. Trust protector.