Sec. 13.36.250. Impartiality.
If a trust has two or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.
Sec. 13.36.260. Investment costs.
In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.
Sec. 13.36.265. Reviewing compliance.
Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight.
Sec. 13.36.130. Failure of beneficiary to present claim for payment.
If a beneficiary for whom a trust bank account is created under AS 13.36.125 does not present the beneficiary’s claim to the bank for payment within one year after the claim is due, the depositor who created the trust may revoke the trust as to the beneficiary.
Sec. 13.36.185. Tort liability of trust.
(a) If a trustee or a predecessor of the trustee incurs personal liability for a tort committed in the course of the trustee’s administration, the trustee in the trustee’s representative capacity may be sued and collection made from the trust property if the court determines in the tort action that (1) the trustee or the […]
Sec. 13.36.135. Holding stock in name of nominee.
(a) A trustee of a trust owning stocks, bonds, notes, debentures, or other written obligations of a public or private corporation may hold the obligations in the name of a nominee, without mention of the trust in the records of the corporation or in the stock certificate or stock registration book of the corporation, if […]
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 […]