- Alaska Statutes.
- Title 34. Property
- Chapter 45. Unclaimed Property
- Section 220. Property Held By Agents and Fiduciaries.
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. Property of Business Associations Held in Course of Dissolution.
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. Property Held By Courts and Public Agencies.
AS 34.45.220. Property Held By Agents and Fiduciaries.
- (a) Intangible property and income or increment derived from the intangible property held in a fiduciary capacity for the
benefit of another person is presumed abandoned unless the owner, within three years after it has become payable or
distributable, has increased or decreased the principal, accepted payment of principal or income, communicated
concerning the property, or otherwise indicated an interest as evidenced by a memorandum or other record, on file,
prepared by the fiduciary.
- (b) Money in an individual retirement account or a retirement plan for self-employed individuals or similar account or
plan established under the internal revenue laws of the United States is not payable or distributable within the
meaning of (a) of this section unless, under the terms of the account or plan, distribution of all or part of the funds
would then be mandatory.
- (c) For the purpose of this section, a person who holds property as an agent for a business association is considered as
holding the property in a fiduciary capacity for that business association alone, unless the agreement between that
person and the business association provides otherwise.
- (d) For the purposes of this chapter, a person who is considered as holding property in a fiduciary capacity for a
business association alone is the holder of the property only so far as the interest of the business association in the
property is concerned, and the business association is the holder of the property so far as the interest of another
person in the property is concerned.
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