Sec. 13.36.194. Power of beneficiary of trust.
A beneficiary of a trust affected by AS 13.36.105 – 13.36.220 may, if the beneficiary has full legal capacity and acts on full information, by written instrument delivered to the trustee, relieve the trustee, as regards the beneficiary, from any or all of the duties, restrictions, and liabilities that would otherwise be imposed on the […]
Sec. 13.36.196. Relieving trustee of duties, restrictions, and liability; power of the court.
A court of competent jurisdiction may, for cause shown and on notice to the beneficiaries, relieve a trustee from any or all of the duties and restrictions that would otherwise be placed on the trustee by AS 13.36.105 – 13.36.220 or wholly or partly excuse a trustee who has acted honestly and reasonably from liability […]
Sec. 13.36.198. Consequences of violations.
If a trustee violates a provision of AS 13.36.105 – 13.36.220, the trustee may be removed as trustee under AS 13.36.076 and denied compensation in whole or in part, and a beneficiary, co-trustee, or successor trustee may treat the violation as a breach of trust.
Sec. 13.36.215. Definitions.
(a) In AS 13.36.105 – 13.36.220, unless the context or subject matter otherwise requires, (1) “affiliate” means a person directly or indirectly controlling or controlled by another person or a person under direct or indirect common control with another person, including a person with whom a trustee has an express or implied agreement regarding the […]
Sec. 13.36.220. Short title.
AS 13.36.105 – 13.36.220 may be cited as the Alaska Trusts Act.
Sec. 13.36.140. Loan of trust funds.
Except as provided in AS 13.36.145, a corporate trustee may not lend trust funds to itself or an affiliate, or to a director, an officer, or an employee of itself or an affiliate, and a noncorporate trustee may not lend trust funds to itself or to a relative, an employer, an employee, or a partner […]
Sec. 13.36.192. Power of settlor of trust.
(a) The settlor of a trust affected by AS 13.36.105 – 13.36.220 may, by provision in the instrument creating the trust if the trust is created by a writing, by oral statement to the trustee at the time of the creation of the trust if the trust is created orally, or by an amendment of […]
Sec. 13.36.145. Corporate trustee depositing trust funds with itself.
(a) A corporate trustee that is subject to regulation and supervision by state or federal authorities may deposit with itself trust funds that are being held out of necessity pending investment, distribution, or payment of debts if the corporate trustee (1) pays into the trust for the deposit the interest the corporate trustee is required […]
Sec. 13.36.150. Trustee leasing, buying, or selling to or from itself or a related person.
A trustee, unless expressly authorized by the trust instrument, may not directly or indirectly lease, buy, or sell property for the trust from or to (1) itself or an affiliate; (2) a director, an officer, or an employee of the trustee or an affiliate; or (3) a relative, an employer, or a partner or other […]
Sec. 13.36.153. Restrictions on exercising certain trustee powers.
(a) Notwithstanding AS 13.36.107, a trustee who is not an independent trustee may not exercise a power to make or cause to be made a discretionary distribution of either principal or income (1) to or for the direct or indirect benefit of the trustee individually or to any person holding a power to remove and […]