Sec. 13.46.050. Other transfer by fiduciary.
(a) Subject to (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor under AS 13.46.080, in the absence of a will or under a will or trust that does not contain an authorization to do so. […]
Sec. 13.46.060. Transfer by obligor.
(a) Subject to (b) and (c) of this section, a person not subject to AS 13.46.040 or 13.46.050 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor under AS 13.46.080. (b) If a person […]
Sec. 13.46.070. Receipt for custodial property.
A written receipt by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian under this chapter.
Sec. 13.46.080. Manner of creating custodial property and effecting transfer; designation of initial custodian; control.
(a) Custodial property is created and a transfer is made when (1) an uncertificated security or a certificated security in registered form is either (A) registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words “as custodian for _____________________________________ (name of minor) […]
Sec. 13.46.085. Native corporations; custodians.
(a) The stock or membership in a corporation organized under the law of this state under 43 U.S.C. 1601 et seq. (Alaska Native Claims Settlement Act) that a minor is entitled to receive under that Act shall be held by a custodian. (b) A person making a transfer of stock, whether by gift, devise, or […]
Sec. 13.46.090. Single custodianship.
A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.
Sec. 13.46.100. Validity and effect of transfer.
(a) The validity of a transfer made in a manner prescribed in this chapter is not affected by (1) failure of the transferor to comply with AS 13.46.080(c) concerning possession and control; (2) designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is ineligible to […]
Sec. 13.46.110. Care of custodial property.
(a) A custodian shall (1) take control of custodial property; (2) register or record title to custodial property if appropriate; and (3) collect, hold, manage, invest, and reinvest custodial property. (b) In dealing with custodial property, a custodian shall observe the standard of care that would be observed by a prudent person dealing with property […]
Sec. 13.46.120. Powers of custodian.
(a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only. (b) This section does not relieve a custodian from liability for breach of AS […]
Sec. 13.46.130. Use of custodial property.
(a) A custodian may deliver or pay to the minor or expend for the minor’s benefit as much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (1) the duty or ability of the custodian personally or of another person […]