Sec. 13.36.190. Personal liability for tort committed by trustee.
A trustee may be held personally liable for a tort committed by the trustee, or by the trustee’s agents or employees in the course of their agency or employment, subject to the rights of exoneration or reimbursement under AS 13.36.180.
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. 13.36.080. Duty to inform and account to beneficiaries.
(a) The trustee shall keep the beneficiaries of the trust reasonably informed of the trust and its administration. In addition, (1) within 30 days after acceptance of the trust, the trustee shall inform in writing the current beneficiaries and, if possible, one or more persons who under AS 13.06.120 may represent beneficiaries with future interests, […]
Sec. 13.36.085. Bonding.
A trustee need not provide bond to secure performance of the trustee’s duties unless required by the terms of the trust, reasonably requested by a beneficiary, or found by the court to be necessary to protect the interests of the beneficiaries who are not able to protect themselves and whose interests otherwise are not adequately […]
Sec. 13.36.090. Trustee’s duty; appropriate place of administration; deviation.
A trustee is under a continuing duty to administer the trust at a place appropriate to the purposes of the trust and to its sound, efficient management. If the principal place of administration becomes inappropriate for any reason, the court may enter any order furthering efficient administration and the interests of beneficiaries, including, if appropriate, […]
Sec. 13.36.095. Personal liability of trustee to third parties.
(a) [Repealed, § 22 ch 105 SLA 1998.] (b) Subject to AS 13.36.105 – 13.36.220, a trustee is personally liable for obligations arising from ownership or control of property of the trust estate or for torts committed in the course of administration of the trust estate only if personally at fault. (c) Claims based on […]
Sec. 13.36.100. Limitations on proceedings against trustees.
(a) Unless resolved or barred under (b) or (c) of this section, and notwithstanding the lack of adequate disclosure, all claims against a trustee who has issued a report received by the beneficiary and who has informed the beneficiary of the location and availability of records for examination by the beneficiary are barred unless a […]