2018 Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 26. Revised Alaska Trust Company Act
Article 1. General Authority.
Sec. 06.26.010. Persons authorized to act as fiduciaries.
(a) Notwithstanding other provisions of law and except as provided in AS 06.26.020, a person may not act as a fiduciary in this state unless the person is
(1) a trust company organized under this chapter;
(2) a private trust company that has received an exemption under AS 06.26.200;
(3) a state financial institution;
(4) a national bank having its principal office in this state and authorized by the United States Comptroller of the Currency to act as a fiduciary;
(5) a federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
(6) an international bank that has a branch bank in this state established or maintained under AS 06.05.550; in this paragraph, “international bank” has the meaning given in AS 06.05.990;
(7) an interstate national bank with a branch bank in this state established or maintained under AS 06.05.550; in this paragraph, “interstate national bank” means a national bank whose principal office, as designated in the bank's articles of incorporation, is not located in this state;
(8) an entity that
(A) is organized under the laws of a state of the United States other than this state;
(B) holds a charter, license, certificate, or other type of authorization from this or another state of the United States to engage in banking; and
(C) has a branch bank located in this state established or maintained under AS 06.05.550;
(9) an interstate state trust company or international trust company with a trust office authorized by the department under AS 06.26.810 — 06.26.895;
(10) a trustee of only charitable trusts, does not offer fiduciary services to the general public with regard to noncharitable trusts, and observes the requirements applicable to trustees under AS 13.36.225 — 13.36.290 (Alaska Uniform Prudent Investor Act); or
(11) a federally chartered credit union having its principal office in this state and authorized by the National Credit Union Administration to act as a fiduciary.
(b) In this section, “branch bank” has the meaning given in AS 06.05.990.
