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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 26. Revised Alaska Trust Company Act
- Section 10. Persons Authorized to Act as Fiduciaries.
previous: Chapter 26
. Revised Alaska Trust Company Act
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AS 06.26.010. Persons Authorized to Act as Fiduciaries.
- (a) Notwithstanding other provisions of law and except as provided in AS 06.26.020
, a person may not act as a fiduciary in this state unless the person is
- (1) a trust company organized under this chapter;
- (2) a private trust company that has received an exemption under AS 06.26.200;
- (3) a state financial institution;
- (4) a national bank having its principal office in this state and authorized by the United States Comptroller of the
Currency to act as a fiduciary;
- (5) a federally chartered savings association having its principal office in this state and authorized by its federal
chartering authority to act as a fiduciary;
- (6) an international bank that has a branch bank in this state established or maintained under AS 06.05.550
; in this paragraph, "international bank" has the meaning given in AS 06.05.990
- (7) an interstate national bank with a branch bank in this state established or maintained under AS 06.05.550
; in this paragraph, "interstate national bank" means a national bank whose principal office, as designated in the
bank's articles of incorporation, is not located in this state;
- (8) an entity that
- (A) is organized under the laws of a state of the United States other than this state;
- (B) holds a charter, license, certificate, or other type of authorization from this or another state of the United States
to engage in banking; and
- (C) has a branch bank located in this state established or maintained under AS 06.05.550
- (9) an interstate state trust company or international trust company with a trust office authorized by the department
under AS 06.26.810
- (10) a trustee of only charitable trusts, does not offer fiduciary services to the general public with regard to
noncharitable trusts, and observes the requirements applicable to trustees under AS 13.36.225
- 13.36.290 (Alaska Uniform Prudent Investor Act); or
- (11) a federally chartered credit union having its principal office in this state and authorized by the National Credit
Union Administration to act as a fiduciary.
- (b) In this section, "branch bank" has the meaning given in 06.05.990.
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