(a) A trust company shall be incorporated under AS 10.06.
(b) In addition to the items required under AS 10.06.208 to be included in articles of incorporation, the articles of incorporation of a trust company must specify
(1) the judicial district where the trust company will be located and the community where the trust company will locate its principal place of business;
(2) the amount of the trust company's stock, which must be divided into shares having a par value of not less than $1 each;
(3) that there will be at least five but not more than 25 directors;
(4) the period for which the trust company is organized, whether limited or perpetual;
(5) the name by which the trust company will be known, which must contain the words "trust company" as a part of the name; and
(6) a declaration that each incorporator will, if elected, accept the responsibilities and faithfully discharge the duties of a director.
Section: Previous 06.26.040 06.26.050 06.26.060 06.26.070 06.26.080 06.26.085 06.26.090 06.26.100 06.26.110 06.26.120 06.26.130 06.26.140 NextLast modified: November 15, 2016