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https://law.justia.com/codes/alaska/title-6/chapter-20/article-2/section-06-20-120/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.›Sec. 06.20.120. Revocation or suspension where licensee has branches. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses. › Sec. 06.20.120. Revocation or suspension where licensee has branches. | Where a licensee holds more than one license, the department may revoke or suspend any license for which grounds for the action exist. |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-2/section-06-20-130/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.›Sec. 06.20.130. Surrender. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses. › Sec. 06.20.130. Surrender. | A licensee may surrender a license by delivering written notice of the surrender to the department. The surrender does not affect the licensee's civil or criminal liability for acts committed before the surrender. |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-2/section-06-20-140/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.›Sec. 06.20.140. Effect of revocation, suspension, or surrender. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses. › Sec. 06.20.140. Effect of revocation, suspension, or surrender. | A revocation, suspension, or surrender of a license does not impair or affect the legally enforceable obligation of any pre-existing contract between the licensee and any borrower. |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-2/section-06-20-150/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.›Sec. 06.20.150. Status of license; reinstatement. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses. › Sec. 06.20.150. Status of license; reinstatement. | Every license remains in force and effect until it is surrendered, revoked, or suspended as provided in this chapter. The department may reinstate, suspend licenses, or issue new licenses to a licensee whose license has been revoked if no fact or condition exists that clearly would have constituted ground for denial of... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-3/section-06-20-160/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 3. Inspections, Examinations, Records, and Reports.›Sec. 06.20.160. Inspection and examination of licensees. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 3. Inspections, Examinations, Records, and Reports. › Sec. 06.20.160. Inspection and examination of licensees. | For the purpose of discovering violations of this chapter or securing information required by it under this chapter, the department or its duly designated representative may investigate at any time the loans and business and examine the books, accounts, records, and files used in the business, of every licensee and of ... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-3/section-06-20-170/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 3. Inspections, Examinations, Records, and Reports.›Sec. 06.20.170. Periodic examination. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 3. Inspections, Examinations, Records, and Reports. › Sec. 06.20.170. Periodic examination. | The department shall examine the affairs, business, office, and records of each licensee at least once every 18 months. Examination fees are to be charged to and paid by the licensee in accordance with AS 06.01.010. The department may maintain an action for the recovery of the costs in any court of competent jurisdicti... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-3/section-06-20-180/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 3. Inspections, Examinations, Records, and Reports.›Sec. 06.20.180. Books and records of licensees. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 3. Inspections, Examinations, Records, and Reports. › Sec. 06.20.180. Books and records of licensees. | Each licensee shall keep and use in the licensed premises those books, accounts, and records that will enable the department to determine whether the licensee is complying with this chapter and with the regulations lawfully adopted by the department under this chapter. The maintenance of separate books and records for ... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-3/section-06-20-190/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 3. Inspections, Examinations, Records, and Reports.›Sec. 06.20.190. Annual reports of licensees. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 3. Inspections, Examinations, Records, and Reports. › Sec. 06.20.190. Annual reports of licensees. | Each licensee shall, on or before March 15 of each year, file a report with the department containing information as the department may reasonably require concerning the business and operations during the preceding calendar year of each licensed place of business conducted by the licensee inside the state. The report s... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-200/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.200. Advertising of misleading statements prohibited. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.200. Advertising of misleading statements prohibited. | (a) A person may not advertise, print, display, publish, distribute, or broadcast or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner any statement or representation with regard to the rates, terms, or conditions for the lending of money, credit, goods, or things... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-210/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.210. Use of premises restricted. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.210. Use of premises restricted. | A licensee may not conduct the business of making loans under this chapter within an office, room, or place of business in which another business is solicited or engaged in, or in association or conjunction therewith, except as may be authorized in writing by the department upon its finding that the character of the ot... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-220/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.220. Transactions limited to licensed premises. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.220. Transactions limited to licensed premises. | A licensee may not transact business or make any loan under this chapter under any name or at any place of business other than that named in the license. |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-230/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.230. Maximum interest permitted. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.230. Maximum interest permitted. | (a) A licensee may lend any sum of money not exceeding $25,000 and may charge, contract for, and receive on the loan interest at a rate not exceeding three percent a month on that part of the unpaid principal balance of a loan not in excess of $850; two percent a month on the unpaid principal balance exceeding $850 but... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-240/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.240. Loans for purpose of obtaining higher interest. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.240. Loans for purpose of obtaining higher interest. | A licensee may not induce or permit a person, or a husband and wife jointly or severally, to split up or divide a loan or to become obligated, directly or contingently or both, under more than one loan contract at the same time, for the purpose or with the result of obtaining a higher rate of interest than would otherw... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-250/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.250. Payments and interest. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.250. Payments and interest. | (a) Interest may not be paid, deducted, or received in advance. Except for open-end loans made under AS 06.20.285, interest shall be computed and paid only on unpaid principal balances and may not be compounded; however, if part or all of the consideration for a loan contract is the unpaid principal balance of a prior ... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-260/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.260. Charges prohibited. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.260. Charges prohibited. | (a) A further or other charge or amount for an examination, service, brokerage commission, expense, fee, bonus, or other thing may not be directly or indirectly charged, contracted for, or received except
(1) lawful fees actually paid out by the licensee to a public officer for filing, recording, or releasing any instr... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-270/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.270. Requirements for making and payment of loans. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.270. Requirements for making and payment of loans. | Except as provided in AS 06.20.285 for open-end loans, every licensee shall
(1) deliver to the borrower at the time a loan is made a statement containing a printed copy of AS 06.20.230 - 06.20.260 in the English language and showing in clear and distinct terms the amount and date of the loan and its maturity, the natur... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-280/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.280. Maximum charge by licensee. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.280. Maximum charge by licensee. | A licensee may not directly or indirectly charge, contract for, or receive any interest, discount, or consideration greater than that which the licensee would be permitted by law to charge if the person were not a licensee under this chapter, upon the loan, use or forbearance of money, goods, or things in action, or up... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-285/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.285. Open-end loans. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.285. Open-end loans. | (a) A licensee may make open-end loans not exceeding an aggregate total of $25,000 and may contract for and receive interest on open-end loans as provided in AS 06.20.230, and for other charges permitted under this chapter. Interest on open-end loans may be computed daily or monthly on the unpaid principal balance or t... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-287/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.287. Insurance on open-end loans. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.287. Insurance on open-end loans. | (a) A licensee may obtain consumer credit, credit loss of income, and property insurance on open-end loans under this chapter. The consumer credit insurance obtained by a licensee shall satisfy the requirements of AS 21.57. The property insurance obtained by a licensee shall satisfy the requirements of AS 21.39 and AS ... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-290/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.290. Purchase of wages or other compensation for $25,000 or less. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.290. Purchase of wages or other compensation for $25,000 or less. | For purposes of this chapter, the payment of $25,000 or less in money, credit, goods, or things in action, as consideration for the sale or assignment of, or order for, the payment of wages, salary, commissions, or other compensation for services, whether earned or to be earned, is considered a loan, and the difference... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-4/section-06-20-300/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 4. Business Practices.›Sec. 06.20.300. Maximum charges by nonlicensee on loans. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 4. Business Practices. › Sec. 06.20.300. Maximum charges by nonlicensee on loans. | (a) Except as authorized in this chapter, a person may not directly or indirectly charge, contract for, or receive any interest, discount, or consideration greater than that which the person would be permitted by law to charge if the person were not a licensee, upon the loan, use, or forbearance of money, goods, or thi... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-310/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.310. Effect of illegal interest rate. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.310. Effect of illegal interest rate. | A loan of the amount or value of $25,000 or less for which a greater rate of interest, consideration, or charge than is permitted by this chapter has been charged, contracted for, or received, wherever made, may not be enforced in the state, and every person participating in such a loan in the state is subject to this ... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-320/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.320. Civil penalties. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.320. Civil penalties. | (a) A licensee or lender who, in the making or collection of a loan contract, does any act that violates AS 06.20.230 - 06.20.260 or 06.20.280 - 06.20.310 shall at the option of the commissioner reimburse the portion of the interest and charges in excess of that provided in those sections, or, in the case of repeated v... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-330/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.330. Exemptions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.330. Exemptions. | (a) [Repealed, § 55 ch 75 SLA 2002.]
(b) This chapter does not apply to individual loans by
(1) pawnbrokers where separate and individual loans do not exceed $750; in this paragraph, “pawnbroker” means a person who is regulated under AS 08.76.100 - 08.76.590; or
(2) loan shops where separate and individual loans do not... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-340/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.340. Regulations, rulings, demands, and findings; service of notice. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.340. Regulations, rulings, demands, and findings; service of notice. | (a) The department may adopt general regulations and make specific rulings, demands, and findings consistent with this chapter as may be necessary for the proper conduct of business and the enforcement of this chapter.
(b) All notices required or authorized by this chapter to be given or served by the department may be... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-350/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.350. Amendment or repeal of chapter. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.350. Amendment or repeal of chapter. | This chapter may be modified, amended, or repealed so as to effect a cancellation or alteration of a license or right of a licensee hereunder, but the cancellation or alteration may not impair or affect the obligation of a pre-existing lawful contract between a licensee and a borrower. |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-900/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.900. Definitions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.900. Definitions. | In this chapter, unless the context otherwise requires,
(1) “commissioner” means the commissioner of commerce, community, and economic development or a designee of the commissioner;
(2) “department” means the Department of Commerce, Community, and Economic Development;
(3) “open-end loan” means a loan made by a license... |
https://law.justia.com/codes/alaska/title-6/chapter-20/article-5/section-06-20-920/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 20. Alaska Small Loans Act›Article 5. General Provisions.›Sec. 06.20.920. Short title. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 20. Alaska Small Loans Act › Article 5. General Provisions. › Sec. 06.20.920. Short title. | This chapter may be cited as the Alaska Small Loans Act. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-1/section-06-26-010/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 1. General Authority.›Sec. 06.26.010. Persons authorized to act as fiduciaries. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 1. General Authority. › Sec. 06.26.010. Persons authorized to act as fiduciaries. | (a) Notwithstanding other provisions of law and except as provided in AS 06.26.020, a person may not act as a fiduciary in this state unless the person is
(1) a trust company organized under this chapter;
(2) a private trust company that has received an exemption under AS 06.26.200;
(3) a state financial institution;
(... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-1/section-06-26-020/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 1. General Authority.›Sec. 06.26.020. Exemptions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 1. General Authority. › Sec. 06.26.020. Exemptions. | (a) Notwithstanding any other provision of this chapter, a person does not act as a fiduciary under this chapter if the person
(1) is licensed to practice law in this state, the person is acting within the scope of the license, and the person and any law firm of the person are not trustees of more trusts than the numbe... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-1/section-06-26-030/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 1. General Authority.›Sec. 06.26.030. Location of operation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 1. General Authority. › Sec. 06.26.030. Location of operation. | (a) A trust company may act as a fiduciary in this state, another state, or a foreign country, subject to complying with applicable laws of the state or foreign country, at an office or branch established and maintained under this chapter.
(b) A trust company may conduct any activities at an office outside this state t... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-040/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.040. Name of trust company. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.040. Name of trust company. | (a) A person may not use the words “trust” or “trust company” or any other words in a manner that could reasonably be expected to convey the impression that the person is acting as a fiduciary unless the person is authorized to act as a fiduciary under AS 06.26.010.
(b) This section does not prohibit the use of the wor... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-050/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.050. Powers of trust company. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.050. Powers of trust company. | (a) A trust company may perform any act as a fiduciary that a state financial institution, or a national bank exclusively exercising trust powers, may perform, including
(1) acting as trustee under a written agreement;
(2) receiving money and other property as trustee for investment in real or personal property;
(3) ac... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-060/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.060. Organizers. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.060. Organizers. | One or more persons may organize a trust company. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-070/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.070. Incorporation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.070. Incorporation. | (a) A trust company shall be incorporated under AS 10.06.
(b) In addition to the items required under AS 10.06.208 to be included in articles of incorporation, the articles of incorporation of a trust company must specify
(1) the judicial district where the trust company will be located and the community where the trus... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-080/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.080. Amendment of articles or bylaws. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.080. Amendment of articles or bylaws. | (a) A trust company may amend its articles of incorporation or bylaws in a manner consistent with its articles, its bylaws, AS 10.06, and this chapter by a vote of its shareholders representing at least a majority of the capital at a regular meeting or at a special meeting called for that purpose. The trust company sha... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-085/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.085. Certificate of authority required. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.085. Certificate of authority required. | A person may not act as a trust company until a certificate of authority is received from the department. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-090/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.090. Application for certificate of authority. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.090. Application for certificate of authority. | (a) An application for a certificate of authority shall be made in the form required by the department and must be supported by the information, data, records, and opinions of counsel required by the department. The application must be accompanied by all fees and deposits required by this chapter.
(b) The department ma... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-100/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.100. Department notices regarding application. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.100. Department notices regarding application. | (a) The department shall notify the organizers of a proposed trust company when the application under AS 06.26.090 is complete and accepted for filing and all required fees and deposits have been paid. Promptly after notification, the organizers shall publish in a form specified by the department notice of the filing o... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-110/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.110. Issuance of certificate of authority; required operation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.110. Issuance of certificate of authority; required operation. | (a) The department may not deliver a certificate of authority to a person to act as a trust company until the person has
(1) received cash or marketable securities in at least the full amount of the capital required under AS 06.26.120 from subscriptions for the issuance of shares;
(2) elected or qualified the initial o... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-120/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.120. Required capital; change in outstanding capital and surplus. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.120. Required capital; change in outstanding capital and surplus. | (a) A trust company may not act as a fiduciary unless the trust company has paid-in capital in an amount acceptable to the department, but not less than $400,000, and paid-in surplus equal to 20 percent of paid-in capital. The trust company shall hold its unimpaired capital as security for the faithful discharge of the... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-130/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.130. Capital notes or debentures. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.130. Capital notes or debentures. | (a) A trust company may, with the written consent of the department, and if authorized by its articles of incorporation or approved by persons owning two-thirds of the stock of the trust company entitled to vote, issue convertible or nonconvertible capital notes or debentures. The principal amount of notes and debentur... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-2/section-06-26-140/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 2. Name, Powers, Organization, and Capitalization.›Sec. 06.26.140. Cumulative voting. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 2. Name, Powers, Organization, and Capitalization. › Sec. 06.26.140. Cumulative voting. | Shareholders may not use cumulative voting in the election of directors unless cumulative voting is allowed by the trust company's articles of incorporation. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-3/section-06-26-150/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 3. Operation of Offices.›Sec. 06.26.150. Trust company home office. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 3. Operation of Offices. › Sec. 06.26.150. Trust company home office. | (a) A trust company shall continuously maintain in this state a home office where the trust company operates and keeps its records. At least one executive officer shall maintain an office at the home office.
(b) Each executive officer at the home office is an agent of the trust company for service of process.
(c) A tru... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-3/section-06-26-160/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 3. Operation of Offices.›Sec. 06.26.160. Trust company branch offices. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 3. Operation of Offices. › Sec. 06.26.160. Trust company branch offices. | (a) A trust company may establish branch offices anywhere in the state by
(1) filing a written notice with the department setting out the name of the trust company, the street address of the proposed branch office, and a description of the activities proposed to be conducted at the branch office;
(2) filing with the de... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-3/section-06-26-170/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 3. Operation of Offices.›Sec. 06.26.170. Trust company representative offices. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 3. Operation of Offices. › Sec. 06.26.170. Trust company representative offices. | (a) A trust company may establish or acquire representative trust offices anywhere in this state. To establish or acquire a representative office, a trust company shall
(1) file a written notice with the department that sets out the name of the trust company and the location of the proposed representative office;
(2) f... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-3/section-06-26-180/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 3. Operation of Offices.›Sec. 06.26.180. Offices outside the state. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 3. Operation of Offices. › Sec. 06.26.180. Offices outside the state. | (a) With the prior written approval of the department, a trust company may establish a branch office or a representative office outside this state. To establish a branch office or representative office outside this state, a trust company shall
(1) submit an application to the department specifying the location of the p... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-3/section-06-26-190/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 3. Operation of Offices.›Sec. 06.26.190. Hours of operation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 3. Operation of Offices. › Sec. 06.26.190. Hours of operation. | (a) A trust company and an interstate state trust company or an international trust company maintaining a trust office under AS 06.26.810 - 06.26.895 may close on the legal holidays described in AS 44.12.010 - 44.12.025. A notice of holiday closings shall be made available to the trust company's customers by mail, by t... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-4/section-06-26-200/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 4. Private Trust Companies.›Sec. 06.26.200. Private trust companies. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 4. Private Trust Companies. › Sec. 06.26.200. Private trust companies. | (a) Unless the department expressly in writing exempts the person under this section from all or some of the provisions of this chapter, a private trust company shall comply with the provisions of this chapter applicable to a trust company.
(b) A person may apply in writing for an exemption from specific provisions of ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-4/section-06-26-210/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 4. Private Trust Companies.›Sec. 06.26.210. Requirements to apply for and maintain status as a private trust company. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 4. Private Trust Companies. › Sec. 06.26.210. Requirements to apply for and maintain status as a private trust company. | (a) To obtain an exemption under AS 06.26.200, a person shall file an application with the department containing
(1) a nonrefundable application fee established by the department by regulation;
(2) information that demonstrates that the person qualifies under AS 06.26.200(c);
(3) a detailed statement under oath showing... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-4/section-06-26-220/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 4. Private Trust Companies.›Sec. 06.26.220. Transfer of control. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 4. Private Trust Companies. › Sec. 06.26.220. Transfer of control. | Control of an exempt private trust company may not be sold or otherwise transferred with an exemption under AS 06.26.200. In any change of control, the exempt status of the private trust company automatically terminates on the effective date of the transfer, and the person acquiring control must comply with this chapte... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-4/section-06-26-230/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 4. Private Trust Companies.›Sec. 06.26.230. Revocation of exemption. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 4. Private Trust Companies. › Sec. 06.26.230. Revocation of exemption. | (a) The department may revoke an exemption under AS 06.26.200 if the exempt private trust company
(1) makes a false statement under oath on any document required to be filed by this chapter;
(2) fails to submit to an examination as required by AS 06.26.200;
(3) withholds requested information from the department; or
(4... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-4/section-06-26-240/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 4. Private Trust Companies.›Sec. 06.26.240. Conversion to trust company. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 4. Private Trust Companies. › Sec. 06.26.240. Conversion to trust company. | (a) A private trust company may not offer fiduciary services to the general public as a trust company until the private trust company satisfies the requirements of this section.
(b) The private trust company shall file a notice with the department on a form prescribed by the department, furnish a copy of a resolution a... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-4/section-06-26-245/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 4. Private Trust Companies.›Sec. 06.26.245. Trust company authority. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 4. Private Trust Companies. › Sec. 06.26.245. Trust company authority. | The provisions of AS 06.26.200 - 06.26.240 may not be interpreted to prevent a trust company from providing fiduciary services as a private trust company. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-5/section-06-26-250/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 5. Investments, Loans, and Deposits.›Sec. 06.26.250. Regulations on investments. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 5. Investments, Loans, and Deposits. › Sec. 06.26.250. Regulations on investments. | The department may adopt regulations to establish limits, requirements, or exemptions for particular classes or categories of investment, or limit or expand investment authority for trust companies for particular classes or categories of securities or other property. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-5/section-06-26-260/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 5. Investments, Loans, and Deposits.›Sec. 06.26.260. Pledge of assets. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 5. Investments, Loans, and Deposits. › Sec. 06.26.260. Pledge of assets. | (a) A trust company may not pledge or create a lien on any of the assets belonging to the trust company except to secure
(1) the repayment of money borrowed;
(2) trust deposits as specifically authorized or required by AS 06.26.370 or by regulations adopted under this chapter; or
(3) deposits made by the United States ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-6/section-06-26-370/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 6. Trust Assets.›Sec. 06.26.370. Deposits of trust assets. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 6. Trust Assets. › Sec. 06.26.370. Deposits of trust assets. | (a) A trust company may deposit trust money or other trust assets with itself as an investment if the settlor or the beneficiary authorizes the deposit and if
(1) the trust company maintains as security for the deposits a separate fund of securities that may be used for trust investments and that are under the control ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-6/section-06-26-380/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 6. Trust Assets.›Sec. 06.26.380. Common investment funds. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 6. Trust Assets. › Sec. 06.26.380. Common investment funds. | Subject to regulations adopted by the department, a trust company may invest trust assets in common investment funds. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-6/section-06-26-390/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 6. Trust Assets.›Sec. 06.26.390. Fee determination; investment and management costs. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 6. Trust Assets. › Sec. 06.26.390. Fee determination; investment and management costs. | (a) A trust company shall deal at arm's length with a person when arranging the compensation to be paid by the person for the services of the trust company. Any compensation paid to the trust company must be a reasonable amount with respect to the services rendered.
(b) When investing and managing trust assets, a trust... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-6/section-06-26-400/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 6. Trust Assets.›Sec. 06.26.400. Disclosure of conflicts of interest. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 6. Trust Assets. › Sec. 06.26.400. Disclosure of conflicts of interest. | Before accepting appointment as a trustee, a trust company shall disclose any conflict of interest that may reasonably be expected to arise in the relationship. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-6/section-06-26-410/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 6. Trust Assets.›Sec. 06.26.410. Requirements for handling trust assets. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 6. Trust Assets. › Sec. 06.26.410. Requirements for handling trust assets. | A trust company, its representatives, and its appointees shall observe the requirements applicable to trustees under AS 13.36.225 - 13.36.290 (Alaska Uniform Prudent Investor Act). |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-7/section-06-26-450/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 7. Ownership.›Sec. 06.26.450. Acquisition of control. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 7. Ownership. › Sec. 06.26.450. Acquisition of control. | (a) Except as expressly otherwise permitted under this chapter, a person may not, without the prior written approval of the department, directly or indirectly acquire control of a trust company through a change in a legal or beneficial interest in voting securities of a trust company or a corporation or other person wh... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-7/section-06-26-460/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 7. Ownership.›Sec. 06.26.460. Application for acquisition of control. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 7. Ownership. › Sec. 06.26.460. Application for acquisition of control. | (a) A proposed transferee seeking approval under AS 06.26.450 to acquire control of a trust company shall file with the department
(1) an application in the form prescribed by the department;
(2) the filing fee established by the department by regulation; and
(3) all information required by regulation or that the depar... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-7/section-06-26-470/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 7. Ownership.›Sec. 06.26.470. Decision on application for acquisition of control. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 7. Ownership. › Sec. 06.26.470. Decision on application for acquisition of control. | (a) The department shall approve or deny an application for acquisition of control not later than the 60th day after the date that the notice regarding acquisition of control is published under AS 06.26.460.
(b) If the department approves an application filed under AS 06.26.460, the applicant may acquire control. Any w... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-7/section-06-26-480/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 7. Ownership.›Sec. 06.26.480. Objection to other transfer. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 7. Ownership. › Sec. 06.26.480. Objection to other transfer. | AS 06.26.450 - 06.26.480 may not be construed to prevent the department from investigating, commenting on, or seeking to enjoin or set aside a transfer of voting securities that evidence a direct or indirect interest in a trust company if the department considers the transfer to be against the public interest. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-500/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.500. Voting securities held as trust assets. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.500. Voting securities held as trust assets. | (a) Voting securities of a trust company held by the trust company as trust assets under a will or trust, whether registered in the trust company's own name or in the name of its nominee, may not be voted in the election of directors or on a matter affecting the compensation of directors, officers, or employees of the ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-510/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.510. Board of directors. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.510. Board of directors. | (a) The board of directors of a trust company shall consist of at least five but not more than 25 directors, and the majority of the directors must be residents of this state. The principal executive officer of the trust company is a member of the board and the board's presiding officer unless the board elects a differ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-520/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.520. Board meetings and review of reports. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.520. Board meetings and review of reports. | (a) The board of directors of a trust company shall meet at least once every three months. The department or a director may call a special meeting of the board. A majority of the board constitutes a quorum. The board shall keep minutes of each board meeting, including a record of attendance and a record of all votes.
(... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-530/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.530. Officers. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.530. Officers. | (a) The board shall annually appoint the officers of the trust company. The officers serve at the pleasure of the board.
(b) The president of the trust company is the principal executive officer primarily responsible for the execution of board policies and operation of the trust company. The trust company shall have an... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-540/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.540. Prohibition of certain action by officer or employee. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.540. Prohibition of certain action by officer or employee. | Unless expressly authorized by a resolution of the board recorded in the minutes of the board, an officer or employee may not create or dispose of a trust company asset or create or incur a liability on behalf of the trust company. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-550/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.550. Trust committee. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.550. Trust committee. | (a) The board may appoint a trust committee to act for the company in matters dealing with the initial and annual reviews of accounts, account acceptance, and investment strategies. A trust committee shall consist solely of directors, officers, or employees of the trust company, or any combination of these positions. T... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-560/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.560. Prohibited acts. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.560. Prohibited acts. | (a) A director, an officer, an employee, or a shareholder of a trust company may not
(1) conceal information or a fact, or remove, destroy, or conceal a book or record of the trust company, for the purpose of concealing information or a fact from the department or an agent of the department; or
(2) for the purpose of c... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-570/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.570. Transactions with management and affiliates. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.570. Transactions with management and affiliates. | (a) Without the prior approval of a disinterested majority of the board recorded in the minutes, or, if a disinterested majority cannot be obtained, the prior written approval of the department, a trust company may not directly or indirectly
(1) sell or lease an asset of the trust company to a director, an officer, a p... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-580/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.580. Trust asset transactions involving certain securities, assets, or information. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.580. Trust asset transactions involving certain securities, assets, or information. | (a) Except as provided in this chapter, or as authorized under the instrument creating the relationship, a trust company may not invest trust assets in the stock or obligations of, or use trust assets to acquire property from, the trust company or any of the trust company's officers, directors, or employees. A trust co... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-585/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.585. Policies and procedures. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.585. Policies and procedures. | A trust company shall adopt written policies and procedures regarding decisions or recommendations to purchase or sell a security that is a trust asset to facilitate compliance with federal and state securities laws. These policies and procedures must include the prohibition in AS 06.26.580(b). |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-590/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.590. Fiduciary responsibility. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.590. Fiduciary responsibility. | The board of a trust company is responsible for the proper exercise of fiduciary powers by the trust company and for each matter that is related to the exercise of fiduciary powers, including
(1) the determination of policies;
(2) the investment and disposition of trust assets; and
(3) the direction and review of the a... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-600/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.600. Trust account record keeping. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.600. Trust account record keeping. | A trust company shall keep its trust assets records separate and distinct from other records of the trust company in the manner required by state and federal law. The trust assets records must contain all material information relating to each trust assets account, as appropriate under the circumstances. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-610/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.610. Customer records confidential. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.610. Customer records confidential. | (a) The trust company records relating to customers are confidential and may not be made public unless
(1) disclosure is compelled by a court or administrative order;
(2) disclosure is required by federal or state law;
(3) disclosure is authorized in writing by the customer;
(4) disclosure is made to the holder of a ne... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-620/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.620. Insurance; bonds. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.620. Insurance; bonds. | (a) The board of directors of a trust company shall maintain bonding and other insurance for the trust company against dishonesty, fraud, defalcation, forgery, theft, embezzlement, burglary, robbery, and other similar insurable losses and hazards as required by the department by regulation. The board shall obtain the b... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-8/section-06-26-630/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 8. Governance.›Sec. 06.26.630. Reports of apparent crime. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 8. Governance. › Sec. 06.26.630. Reports of apparent crime. | (a) A trust company that is the victim of a robbery, that has a shortage of money or other assets in excess of $5,000, or that is the victim of an apparent or suspected misapplication of its money or other assets in any amount by a director, an officer, or an employee shall report the robbery, shortage, or apparent or ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-650/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.650. General provisions for conversions, mergers, and consolidations. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.650. General provisions for conversions, mergers, and consolidations. | (a) A national bank whose main office is located in the state or a state bank whose main office is located in the state may convert to a trust company or merge or consolidate with a trust company, and a trust company may merge or consolidate with another trust company, if the conversion, merger, or consolidation is con... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-660/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.660. Merger or consolidation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.660. Merger or consolidation. | (a) To merge or consolidate under AS 06.26.650, the merging persons shall file with the department the original articles of merger or consolidation, a number of copies of the articles of merger or consolidation equal to the number of trust companies involved in the merger or consolidation, and an application in the for... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-670/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.670. Rights of dissenters. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.670. Rights of dissenters. | In addition to the dissenter's rights under AS 10.06 for a merger or consolidation, if a shareholder of a trust company objects to a conversion of the trust company, the dissenting shareholder's rights shall be exercised under and governed by AS 10.06.574 - 10.06.582 as if the conversion were a merger. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-680/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.680. Authority to purchase assets of another trust company. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.680. Authority to purchase assets of another trust company. | (a) A trust company with the prior written approval of the department may purchase all or substantially all of the assets of another trust company, including the right to control accounts established with the trust accounts. Except as otherwise expressly provided by another statute, the purchase by a trust company of a... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-690/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.690. Authority to act as disbursing agent. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.690. Authority to act as disbursing agent. | A purchasing trust company may hold the purchase price and any additional money or other assets delivered to it by the selling trust company in trust for the selling trust company and may act as an agent of the selling trust company in disbursing the money or other assets by paying the creditors of the selling trust co... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-700/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.700. Liquidation of selling trust company. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.700. Liquidation of selling trust company. | If a selling trust company is at any time after the sale of assets voluntarily or involuntarily closed for liquidation by a state or federal regulatory agency, the purchasing trust company shall pay to the receiver of the selling trust company the balance of the money or other assets held by the purchasing trust compan... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-710/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.710. Payment to creditors. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.710. Payment to creditors. | A purchasing trust company may pay a creditor of the selling trust company the amount to be paid the creditor under the terms of the contract of agency entered into under AS 06.26.690 by opening an agency account in the name of the creditor, crediting the account with the amount to be paid the creditor under the terms ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-9/section-06-26-720/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 9. Organic Change.›Sec. 06.26.720. Sale of assets. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 9. Organic Change. › Sec. 06.26.720. Sale of assets. | (a) The board of a trust company, with the department's approval, may cause a trust company to sell all or substantially all of its assets, including the right to control accounts established with the trust company for trust assets, without shareholder approval if the department finds
(1) the interests of the trust com... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-730/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.730. Voluntary liquidation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.730. Voluntary liquidation. | (a) Without department approval, a trust company may not cease acting as a fiduciary in this state and voluntarily surrender its certificate of authority and as a consequence be relieved of the necessity to comply with the requirements of this chapter.
(b) A trust company proposing to cease acting as a fiduciary in thi... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-740/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.740. Revocation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.740. Revocation. | (a) If the department determines that any of the following factors exist, the department may revoke, consistent with AS 06.01.030 and regulations adopted by the department under AS 06.01.030 and this chapter, a trust company's certificate of authority:
(1) the existence of the trust company, or its authority to act as ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-750/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.750. Authority to take possession. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.750. Authority to take possession. | If the department revokes a trust company's certificate of authority under AS 06.26.740(a), the department may take possession of the trust company's fiduciary operations in this state and may appoint a receiver for the liquidation of the trust company's fiduciary operations in this state. If the trust company has its ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-760/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.760. Department in possession. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.760. Department in possession. | (a) When the department has taken possession of a trust company, it is vested with the full and exclusive power of management and control, including the power to act as a trustee for trust assets, to continue or discontinue the operation of the trust company, to stop or limit the payment of the trust company's obligati... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-770/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.770. Reorganization. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.770. Reorganization. | (a) If the department decides to reorganize a trust company, the department, after providing an opportunity for a hearing to all interested parties, shall enter an order proposing a reorganization plan. The department shall send a copy of the plan to each depositor and other customers and to each creditor who will not ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-780/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.780. Involuntary liquidation powers. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.780. Involuntary liquidation powers. | (a) When liquidating a trust company, the department may exercise any power incidental to liquidating a trust company, but it may not, without the approval of the superior court,
(1) sell trust company assets having an appraised value in excess of $100,000;
(2) compromise or release a claim that exceeds $100,000 exclus... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-790/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.790. Claims. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.790. Claims. | (a) As soon as practical after beginning the liquidation of a trust company, the department shall
(1) mail a notice of the liquidation proceedings to the last known post office address of each depositor, creditor, lessee of a safe deposit box, bailor of property, and trustor and beneficiary of trust assets held by the ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-10/section-06-26-800/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 10. Dissolution and Liquidation.›Sec. 06.26.800. Federal Deposit Insurance Corporation as receiver or liquidator. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 10. Dissolution and Liquidation. › Sec. 06.26.800. Federal Deposit Insurance Corporation as receiver or liquidator. | The department may appoint the Federal Deposit Insurance Corporation or its successor as receiver for a trust company that the department has taken possession of if the deposits of the trust company are insured by that corporation or its successor. Upon filing with the court a certificate indicating the acceptance of t... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-810/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.810. Fiduciary operations at ... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.810. Fiduciary operations at a branch or trust office. | (a) An interstate state trust company, interstate national trust company, or international trust company may not act as a fiduciary in this state unless the trust company maintains a trust office in this state as permitted under AS 06.26.810 - 06.26.895.
(b) If an interstate state trust company, interstate national tru... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-820/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.820. Establishing or acquirin... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.820. Establishing or acquiring a trust office. | If an interstate state trust company, interstate national trust company, or international trust company that does not operate a trust office in this state meets the requirements of AS 06.26.810 - 06.26.895, the trust company may establish a new trust office in this state or acquire a trust office in this state that is ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-830/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.830. Requirement of notice. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.830. Requirement of notice. | To establish a new trust office or acquire a trust office that is in existence at the time of acquisition in this state under AS 06.26.810 - 06.26.895, an interstate state trust company, interstate national trust company, or international trust company shall provide, or cause its home jurisdiction regulator to provide,... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-840/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.840. Conditions for approval. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.840. Conditions for approval. | (a) An interstate state trust company or international trust company may not establish or acquire a trust office in this state under AS 06.26.810 - 06.26.895 unless
(1) the trust company confirms in writing to the department that, while the trust company maintains a trust office in this state, the trust company will co... |
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