Alaska Statutes Title 06, Chapter 06.26, Article 08 - Governance

• Sec. 06.26.500 Voting Securities Held As Trust Assets.
  (a) Voting securities of a trust company held by the trust company as trust assets under a will or trust, whether registered in the...
• Sec. 06.26.510 Board of Directors.
  (a) The board of directors of a trust company shall consist of at least five but not more than 25 directors, and the majority...
• Sec. 06.26.520 Board Meetings and Review of Reports.
  (a) The board of directors of a trust company shall meet at least once every three months. The department or a director may call...
• Sec. 06.26.530 Officers.
  (a) The board shall annually appoint the officers of the trust company. The officers serve at the pleasure of the board.(b) The president of...
• Sec. 06.26.540 Prohibition of Certain Action by Officer or Employee.
  Unless expressly authorized by a resolution of the board recorded in the minutes of the board, an officer or employee may not create or...
• Sec. 06.26.550 Trust Committee.
  (a) The board may appoint a trust committee to act for the company in matters dealing with the initial and annual reviews of accounts,...
• Sec. 06.26.560 Prohibited Acts.
  (a) A director, an officer, an employee, or a shareholder of a trust company may not(1) conceal information or a fact, or remove, destroy,...
• Sec. 06.26.570 Transactions With Management and Affiliates; Penalties.
  (a) Without the prior approval of a disinterested majority of the board recorded in the minutes, or, if a disinterested majority cannot be obtained,...
• Sec. 06.26.580 Trust Asset Transactions Involving Certain Securities, Assets, or Information.
  (a) Except as provided in this chapter, or as authorized under the instrument creating the relationship, a trust company may not invest trust assets...
• Sec. 06.26.585 Policies and Procedures.
  A trust company shall adopt written policies and procedures regarding decisions or recommendations to purchase or sell a security that is a trust asset...
• Sec. 06.26.590 Fiduciary Responsibility.
  The board of a trust company is responsible for the proper exercise of fiduciary powers by the trust company and for each matter that...
• Sec. 06.26.600 Trust Account Record Keeping..
  A trust company shall keep its trust assets records separate and distinct from other records of the trust company in the manner required by...
• Sec. 06.26.610 Customer Records Confidential.
  (a) The trust company records relating to customers are confidential and may not be made public unless(1) disclosure is compelled by a court or...
• Sec. 06.26.620 Insurance; Bonds.
  (a) The board of directors of a trust company shall maintain bonding and other insurance for the trust company against dishonesty, fraud, defalcation, forgery,...
• Sec. 06.26.630 Reports of Apparent Crime.
  (a) A trust company that is the victim of a robbery, that has a shortage of money or other assets in excess of $5,000,...

Last modified: November 15, 2016