Federal and State Laws
Title 06 - Banks and Financial Institutions
> Alaska Statutes Title 06, Chapter 06.26, Article 02 - Name, Powers, Organization, and Capitalization
Alaska Statutes Title 06, Chapter 06.26, Article 02 - Name, Powers, Organization, and Capitalization
Sec. 06.26.040 Name of Trust Company.
(a) A person may not use the words "trust" or "trust company" or any other words in a manner that could reasonably be expected...
Sec. 06.26.050 Powers of Trust Company.
(a) A trust company may perform any act as a fiduciary that a state financial institution, or a national bank exclusively exercising trust powers,...
Sec. 06.26.060 Organizers.
One or more persons may organize a trust company.
Sec. 06.26.070 Incorporation.
(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...
Sec. 06.26.080 Amendment of Articles or Bylaws.
(a) A trust company may amend its articles of incorporation or bylaws in a manner consistent with its articles, its bylaws, AS 10.06, and...
Sec. 06.26.085 Certificate of Authority Required.
A person may not act as a trust company until a certificate of authority is received from the department.
Sec. 06.26.090 Application for Certificate of Authority.
(a) An application for a certificate of authority shall be made in the form required by the department and must be supported by the...
Sec. 06.26.100 Department Notices Regarding Application..
(a) The department shall notify the organizers of a proposed trust company when the application under AS 06.26.090 is complete and accepted for filing...
Sec. 06.26.110 Issuance of Certificate of Authority; Required Operation.
(a) The department may not deliver a certificate of authority to a person to act as a trust company until the person has(1) received...
Sec. 06.26.120 Required Capital; Change in Outstanding Capital and Surplus.
(a) A trust company may not act as a fiduciary unless the trust company has paid-in capital in an amount acceptable to the department,...
Sec. 06.26.130 Capital Notes or Debentures..
(a) A trust company may, with the written consent of the department, and if authorized by its articles of incorporation or approved by persons...
Sec. 06.26.140 Cumulative Voting.
Shareholders may not use cumulative voting in the election of directors unless cumulative voting is allowed by the trust company's articles of incorporation.
Last modified: November 15, 2016