Alaska Statutes Title 13, Chapter 13.60 - Uniform Custodial Trust Act

• Sec. 13.60.010 Custodial Trust.
  (a) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration or...
• Sec. 13.60.020 Custodial Trustee for Future Payment or Transfer.
  (a) A person having the right to designate the recipient of propertypayable or transferable upon a future event may create a custodial trust upon...
• Sec. 13.60.030 Form and Effect of Receipt and Acceptance by Custodial Trustee; Jurisdiction.
  (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...
• Sec. 13.60.040 Transfer to Custodial Trustee by Fiduciary, Obligor, or Other Person; Facility of Payment.
  (a) Unless otherwise directed by an instrument designating a custodial trustee under AS 13.60.020 , a person, including a fiduciary other than a custodial...
• Sec. 13.60.050 Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.
  (a) Beneficial interests in a custodial trust created for multiple beneficiaries are considered to be separate custodial trusts of equal undivided interests for each...
• Sec. 13.60.060 General Duties of Custodial Trustee.
  (a) If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property.(b) If the beneficiary is not incapacitated,...
• Sec. 13.60.070 General Powers of Custodial Trustee.
  (a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property that an unmarried adult owner...
• Sec. 13.60.080 Use of Custodial Trust Property.
  (a) A custodial trustee shall pay to the beneficiary or expend for the beneficiary's use and benefit so much or all of the custodial...
• Sec. 13.60.090 Determination of Incapacity; Effect.
  (a) The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if(1) the custodial trust was created under AS 13.60.040 ;(2)...
• Sec. 13.60.100 Exemption of Third Person From Liability.
  A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to...
• Sec. 13.60.110 Liability to Third Person.
  (a) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership...
• Sec. 13.60.120 Declination, Resignation, Incapacity, Death, or Removal of Custodial Trustee; Designation of Successor Custodial Trustee.
  (a) Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the...
• Sec. 13.60.130 Expenses, Compensation, and Bond of Custodial Trustee.
  Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee(1)...
• Sec. 13.60.140 Reporting and Accounting by Custodial Trustee; Determination of Liability of Custodial Trustee.
  (a) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter...
• Sec. 13.60.150 Limitations of Action Against Custodial Trustee.
  (a) Except as provided in (c) of this section, and unless previously barred by adjudication, consent, or limitation, a claim for relief against a...
• Sec. 13.60.160 Distribution and Termination.
  (a) Except as otherwise provided by AS 13.12.212 (e), upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust...
• Sec. 13.60.170 Methods and Forms for Creating Custodial Trusts.
  (a) If a transaction, including a declaration with respect to specific property or a transfer of specific property, otherwise satisfies applicable law, the criteria...
• Sec. 13.60.180 Applicable Law.
  (a) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the...
• Sec. 13.60.190 Uniformity of Application and Construction.
  This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this...
• Sec. 13.60.900 Definitions.
  In this chapter,(1) "adult" means an individual who is at least 18 years of age;(2) "beneficiary" means an individual for whom property has been...
• Sec. 13.60.990 Short Title.
  This chapter may be cited as the Alaska Uniform Custodial Trust Act.

Last modified: November 15, 2016