1995 Alaska Statutes
TITLE 39 PUBLIC OFFICERS AND EMPLOYEES
Chapter 39.50. CONFLICT OF INTEREST
Sec. 39.50.040. BLIND TRUSTS.
(a) A public official may transfer all or a portion of the official's assets to a blind trust for the duration of service in public office. The original assets placed in the blind trust shall be listed by the official in the statement required to be filed under this chapter. The instrument creating the blind trust must be included with the statement.
(b) For a trust to qualify under this section,
(1) assets transferred to the trust shall be marketable;
(2) the trustee shall be a bank or other institutional fiduciary;
(3) the trustee shall have full authority to manage the trust, including the purchase, sale, and exchange of its assets in accordance with fiduciary principles;
(4) information regarding the identity and the nature of its assets shall be confidential from the trustor for the duration of the trust;
(5) the trustee shall be required to report any known breach of confidentiality or the termination of the trust to the office where the trustor is required to file statements under this chapter; and
(6) Repealed, sec. 26 ch 25 SLA 1975.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
