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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 60. Uniform Custodial Trust Act
- Section 140. Reporting and Accounting By Custodial Trustee; Determination of Liability of Custodial Trustee.
previous: Section 130
. Expenses, Compensation, and Bond of Custodial Trustee.
next: Section 150
. Limitations of Action Against Custodial Trustee.
AS 13.60.140. Reporting and Accounting By Custodial Trustee; Determination of Liability of Custodial Trustee.
- (a) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing
the custodial trust property and shall thereafter provide a written statement of the administration of the custodial
- (1) once each year;
- (2) upon request at reasonable times by the beneficiary or the beneficiary's legal representative;
- (3) upon resignation or removal of the custodial trustee; and
- (4) upon termination of the custodial trust.
- (b) The statements under (a) of this section shall be provided to the beneficiary or to the beneficiary's legal
representative, if any. Upon termination of the beneficiary's interest, the custodial trustee shall furnish a current
statement to the person to whom the custodial trust property is to be delivered.
- (c) A beneficiary, the beneficiary's legal representative, an adult member of the beneficiary's family, a person
interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the
court for an accounting by the custodial trustee or the custodial trustee's legal representative.
- (d) A successor custodial trustee may petition the court for an accounting by a previous custodial trustee.
- (e) In an action or proceeding under this chapter or in another proceeding, the court may require or permit the custodial
trustee or the custodial trustee's legal representative to account. The custodial trustee or the custodial trustee's
legal representative may petition the court for approval of final accounts.
- (f) If a custodial trustee is removed, the court shall require an accounting and order delivery of the custodial trust
property and records to the successor custodial trustee and the execution of all instruments required for transfer of
the custodial trust property.
- (g) On petition of the custodial trustee or a person who could petition for an accounting, the court, after notice to
interested persons, may issue instructions to the custodial trustee or review the propriety of the acts of a custodial
trustee or the reasonableness of compensation determined by the custodial trustee for the services of the custodial
trustee or others.
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