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(a) [Repealed, § 22 ch 105 SLA 1998.]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 […]
Sec. 13.36.105. Powers attached to the office of trustee.
Unless otherwise provided by the trust instrument, an amendment of the trust instrument, or a court order, the powers of a trustee are attached to the office and are not personal.
Sec. 13.36.060. Trust proceedings; initiation by notice; necessary parties.
Proceedings under AS 13.36.035 are initiated by filing a petition in the court and giving notice under AS 13.06.110 to interested parties. The court may order notification of additional persons. A decree is valid as to all who are given notice of the proceeding though fewer than all interested parties are notified.
Sec. 13.36.107. General powers.
(a) Without authorization by a court, a trustee may exercise the powers conferred by the terms of the trust and, except as limited by the terms of the trust, the powers conferred by this chapter. (b) This chapter does not affect the power of a court to (1) relieve a trustee from provisions contained in […]
Sec. 13.36.070. General duty not limited.
Except as specifically provided, the general duty of the trustee to administer a trust expeditiously for the benefit of the beneficiaries is not altered by AS 13.06 – AS 13.36.
Sec. 13.36.109. Specific powers of trustees.
Except as otherwise provided by this chapter, in addition to the powers conferred by the terms of the trust, a trustee may perform all actions necessary to accomplish the proper management, investment, and distribution of the trust property, including the power (1) to collect, hold, and retain trust property received from a settlor or another […]
Sec. 13.36.071. Accepting or rejecting trusteeship.
(a) Except as otherwise provided in (c) or (d) of this section, a person designated as a trustee accepts the trusteeship (1) by substantially complying with a method of acceptance provided by the terms of the trust; or (2) if the terms of the trust do not provide a method, or the method provided in […]
Sec. 13.36.110. Liability of trustee relating to exercise of power.
A dissenting trustee who has joined another trustee in exercising a power is not liable to the beneficiaries or to others for the consequences of the exercise of the power if the dissenting trustee joins because of a requirement for unanimous trustee consent to the exercise of the power. The dissenting trustee’s dissent must be […]