Sec. 13.36.120. Voting of corporate stock owned by trustee.
A trustee of a trust owning corporate stock is liable for a loss resulting to the beneficiaries from a failure to use reasonable care in deciding how to vote the stock and in voting the stock only if personally at fault.
Sec. 13.36.073. Vacancy in trusteeship; appointment of successor.
(a) Except as otherwise provided in the trust instrument, a vacancy in a trusteeship occurs if (1) a person designated as a trustee rejects the trusteeship or is considered to have rejected the trusteeship under AS 13.36.071; (2) a person designated as a trustee cannot be identified or does not exist; (3) a trustee resigns; […]
Sec. 13.36.074. Resignation of trustee.
(a) Except as otherwise provided in the trust instrument, a trustee may resign (1) not less than 30 days after providing written notice of the intent to resign to the qualified beneficiaries and all co-trustees; or (2) with the approval of the court. (b) In approving the resignation of a trustee, the court may issue […]
Sec. 13.36.010. Registration procedures.
Registration shall be accomplished by filing a statement indicating the name and address of the trustee in which it acknowledges the trusteeship. The statement shall indicate whether the trust has been registered elsewhere. The statement shall identify the trust: (1) in the case of a testamentary trust, by the name of the testator and the […]
Sec. 13.36.015. Effect of registration.
(a) By registering a trust, or accepting the trusteeship of a registered trust, the trustee submits personally to the jurisdiction of the court in any proceeding under AS 13.36.035 relating to the trust that may be initiated by any interested person while the trust remains registered. Notice of any proceeding shall be delivered to the […]
Sec. 13.36.020. Effect of failure to register.
A trustee who fails to register a trust in a proper place as required by AS 13.36.005 – 13.36.025, for purposes of any proceedings initiated by a beneficiary of the trust before registration, is subject to the personal jurisdiction of any court in which the trust could have been registered. In addition, any trustee who, […]
Sec. 13.36.025. Qualification of foreign trustee.
(a) A foreign corporate trustee is required to qualify as a foreign corporation doing business in this state if it maintains the principal place of administration of any trust within the state. A foreign co-trustee is not required to qualify in this state solely because its co-trustee maintains the principal place of administration in this […]
Sec. 13.36.035. Court jurisdiction; choice of law.
(a) The court has exclusive jurisdiction of proceedings initiated by interested parties concerning the internal affairs of trusts, including trusts covered by (c) of this section. Except as provided in (c) and (d) of this section, proceedings that may be maintained under this section are those concerning the administration and distribution of trusts, the declaration […]
Sec. 13.36.040. Trust proceedings; venue.
Venue for proceedings under AS 13.36.035 involving registered trusts is in the place of registration. Venue for proceedings under AS 13.36.035 involving trusts not registered in this state is in any place where the trust properly could have been registered, and otherwise by the rules of civil procedure.
Sec. 13.33.302. Registration in beneficiary form; sole or multiple ownership.
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants […]