Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 26. Revised Alaska Trust Company Act

Sec. 06.26.210. Requirements to apply for and maintain status as a private trust company. - (a) To obtain an exemption under AS 06.26.200, a person...

Sec. 06.26.220. Transfer of control. - Control of an exempt private trust company may not be...

Sec. 06.26.230. Revocation of exemption. - (a) The department may revoke an exemption under AS 06.26.200...

Sec. 06.26.240. Conversion to trust company. - (a) A private trust company may not offer fiduciary services...

Sec. 06.26.245. Trust company authority. - The provisions of AS 06.26.200 - 06.26.240 may not be...

Article 5. Investments, Loans, and Deposits.

Sec. 06.26.250. Regulations on investments. - The department may adopt regulations to establish limits, requirements, or...

Sec. 06.26.260. Pledge of assets. - (a) A trust company may not pledge or create a...

Article 6. Trust Assets.

Sec. 06.26.370. Deposits of trust assets. - (a) A trust company may deposit trust money or other...

Sec. 06.26.380. Common investment funds. - Subject to regulations adopted by the department, a trust company...

Sec. 06.26.390. Fee determination; investment and management costs. - (a) A trust company shall deal at arm's length with...

Sec. 06.26.400. Disclosure of conflicts of interest. - Before accepting appointment as a trustee, a trust company shall...

Sec. 06.26.410. Requirements for handling trust assets. - A trust company, its representatives, and its appointees shall observe...

Article 7. Ownership.

Sec. 06.26.450. Acquisition of control. - (a) Except as expressly otherwise permitted under this chapter, a...

Sec. 06.26.460. Application for acquisition of control. - (a) A proposed transferee seeking approval under AS 06.26.450 to...

Sec. 06.26.470. Decision on application for acquisition of control. - (a) The department shall approve or deny an application for...

Sec. 06.26.480. Objection to other transfer. - AS 06.26.450 - 06.26.480 may not be construed to prevent...

Article 8. Governance.

Sec. 06.26.500. Voting securities held as trust assets. - (a) Voting securities of a trust company held by the...

Sec. 06.26.510. Board of directors. - (a) The board of directors of a trust company shall...

Sec. 06.26.520. Board meetings and review of reports. - (a) The board of directors of a trust company shall...

Sec. 06.26.530. Officers. - (a) The board shall annually appoint the officers of the...

Sec. 06.26.540. Prohibition of certain action by officer or employee. - Unless expressly authorized by a resolution of the board recorded...

Sec. 06.26.550. Trust committee. - (a) The board may appoint a trust committee to act...

Sec. 06.26.560. Prohibited acts. - (a) A director, an officer, an employee, or a shareholder...

Sec. 06.26.570. Transactions with management and affiliates. - (a) Without the prior approval of a disinterested majority of...

Sec. 06.26.580. Trust asset transactions involving certain securities, assets, or information. - (a) Except as provided in this chapter, or as authorized...

Sec. 06.26.585. Policies and procedures. - A trust company shall adopt written policies and procedures regarding...

Sec. 06.26.590. Fiduciary responsibility. - The board of a trust company is responsible for the...

Sec. 06.26.600. Trust account record keeping. - A trust company shall keep its trust assets records separate...

Sec. 06.26.610. Customer records confidential. - (a) The trust company records relating to customers are confidential...

Sec. 06.26.620. Insurance; bonds. - (a) The board of directors of a trust company shall...

Sec. 06.26.630. Reports of apparent crime. - (a) A trust company that is the victim of a...

Article 9. Organic Change.

Sec. 06.26.650. General provisions for conversions, mergers, and consolidations. - (a) A national bank whose main office is located in...

Sec. 06.26.660. Merger or consolidation. - (a) To merge or consolidate under AS 06.26.650, the merging...

Sec. 06.26.670. Rights of dissenters. - In addition to the dissenter's rights under AS 10.06 for...

Sec. 06.26.680. Authority to purchase assets of another trust company. - (a) A trust company with the prior written approval of...

Sec. 06.26.690. Authority to act as disbursing agent. - A purchasing trust company may hold the purchase price and...

Sec. 06.26.700. Liquidation of selling trust company. - If a selling trust company is at any time after...

Sec. 06.26.710. Payment to creditors. - A purchasing trust company may pay a creditor of the...

Sec. 06.26.720. Sale of assets. - (a) The board of a trust company, with the department's...

Article 10. Dissolution and Liquidation.

Sec. 06.26.730. Voluntary liquidation. - (a) Without department approval, a trust company may not cease...

Sec. 06.26.740. Revocation. - (a) If the department determines that any of the following...

Sec. 06.26.750. Authority to take possession. - If the department revokes a trust company's certificate of authority...

Sec. 06.26.760. Department in possession. - (a) When the department has taken possession of a trust...

Sec. 06.26.770. Reorganization. - (a) If the department decides to reorganize a trust company,...

Sec. 06.26.780. Involuntary liquidation powers. - (a) When liquidating a trust company, the department may exercise...

Sec. 06.26.790. Claims. - (a) As soon as practical after beginning the liquidation of...

Sec. 06.26.800. Federal Deposit Insurance Corporation as receiver or liquidator. - The department may appoint the Federal Deposit Insurance Corporation or...

Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.

Sec. 06.26.810. Fiduciary operations at a branch or trust office. - (a) An interstate state trust company, interstate national trust company,...

Sec. 06.26.820. Establishing or acquiring a trust office. - If an interstate state trust company, interstate national trust company,...

Sec. 06.26.830. Requirement of notice. - To establish a new trust office or acquire a trust...

Sec. 06.26.840. Conditions for approval. - (a) An interstate state trust company or international trust company...

Sec. 06.26.850. Representative office business; registration. - (a) An interstate state trust company, interstate national trust company,...

Sec. 06.26.860. Additional trust offices. - If an interstate state trust company or international trust company...

Sec. 06.26.870. Examinations; periodic reports; cooperative agreements; assessment of fees. - (a) When the department considers it necessary to protect the...

Sec. 06.26.880. Enforcement. - (a) Consistent with AS 06.01.030 and regulations adopted by the...

Sec. 06.26.890. Notice of subsequent merger, consolidation, or closing. - If an interstate state trust company, interstate national trust company,...

Sec. 06.26.895. Definitions. - In AS 06.26.810 - 06.26.895, (1) “international trust company” means...

Article 12. Miscellaneous Provisions.

Sec. 06.26.900. Powers of department. - The department may (1) exercise general supervision over trust companies,...

Sec. 06.26.905. Cooperative agreements. - (a) The department may enter into cooperative, coordinating, or information-sharing...

Sec. 06.26.910. Appeals. - (a) A person may appeal to the department (1) a...

Sec. 06.26.920. Civil enforcement. - The department may bring any appropriate civil court action against...

Sec. 06.26.930. Trust company reports to the department; publication of reports. - (a) A trust company shall make at least four reports...

Sec. 06.26.940. Remedy of person damaged by violation. - In addition to any other remedies available under law to...

Sec. 06.26.950. Limitation on powers. - This chapter does not allow a trust company to engage...

Article 13. General Provisions.

Sec. 06.26.960. Application of laws relating to general business corporations. - (a) Unless expressly authorized by this chapter, a trust company...

Sec. 06.26.990. Definitions. - (a) In this chapter, unless the context otherwise requires, (1)...

Sec. 06.26.995. Short title. - This chapter may be cited as the Revised Alaska Trust...

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Alaska Statutes Title 6. Banks and Financial Institutions Chapter 26. Revised Alaska Trust Company Act

Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 26. Revised Alaska Trust Company Act