(a) The obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee's acceptance, express or implied, of the custodial trust property.
(b) The custodial trustee's acceptance may be evidenced by a
writing stating in substance as follows:
CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE
I, ____________________ (name of custodial trustee) acknowledge receipt of the custodial
trust property described below or in the attached instrument and accept
the custodial trust as custodial trustee for ________________ (name of beneficiary)
under the Alaska Uniform Custodial Trust Act. I undertake to administer
and distribute the custodial trust property under the Alaska Uniform
Custodial Trust Act. My obligations as custodial trustee are subject to
the directions of the beneficiary unless the beneficiary is designated
as, is, or becomes incapacitated. The custodial trust property consists
of ______________________________________________________________.
Dated _______________________________________________
_____________________________________________________
(Signature of Custodial Trustee).
(c) Upon accepting custodial trust property, a person
designated as custodial trustee under this chapter is subject to the
personal jurisdiction of the court with respect to a matter relating to
the custodial trust.
Section: Previous 13.60.010 13.60.020 13.60.030 13.60.040 13.60.050 13.60.060 13.60.070 13.60.080 13.60.090 13.60.100 13.60.110 13.60.120 13.60.130 13.60.140 13.60.150 NextLast modified: November 15, 2016