(a) Notwithstanding other provisions of law and except as provided in Alaska Stat. § 06.26.020, a person may not act as a fiduciary in this state unless the person is

Terms Used In Alaska Statutes 06.26.010

  • banking: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
  • chapter: includes regulations adopted under this chapter. See Alaska Statutes 06.26.990
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.26.990
  • Fiduciary: A trustee, executor, or administrator.
  • fiduciary: means a person to whom the property of another person is entrusted for a purpose specified in a trust instrument or by a court order. See Alaska Statutes 06.26.990
  • fiduciary services: means services of a fiduciary. See Alaska Statutes 06.26.990
  • financial institution: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
  • international trust company: means an organization that provides fiduciary services and has offices in countries other than the country in which the home office of the entity is located. See Alaska Statutes 06.26.990
  • interstate state trust company: means an organization that
    (A) provides fiduciary services. See Alaska Statutes 06.26.990
  • national bank: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • private trust company: means a person who acts as a fiduciary, is not exempt under Alaska Stat. See Alaska Statutes 06.26.990
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • trust company: means a person who is organized under this chapter to act as a fiduciary and to provide fiduciary services to the general public. See Alaska Statutes 06.26.990
  • trust office: means an office that provides fiduciary services. See Alaska Statutes 06.26.990
  • Trustee: A person or institution holding and administering property in trust.
(1) a trust company organized under this chapter;
(2) a private trust company that has received an exemption under Alaska Stat. § 06.26.200;
(3) a state financial institution;
(4) a national bank having its principal office in this state and authorized by the United States Comptroller of the Currency to act as a fiduciary;
(5) a federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
(6) an international bank that has a branch bank in this state established or maintained under Alaska Stat. § 06.05.550; in this paragraph, “international bank” has the meaning given in Alaska Stat. § 06.05.990;
(7) an interstate national bank with a branch bank in this state established or maintained under Alaska Stat. § 06.05.550; in this paragraph, “interstate national bank” means a national bank whose principal office, as designated in the bank’s articles of incorporation, is not located in this state;
(8) an entity that

(A) is organized under the laws of a state of the United States other than this state;
(B) holds a charter, license, certificate, or other type of authorization from this or another state of the United States to engage in banking; and
(C) has a branch bank located in this state established or maintained under Alaska Stat. § 06.05.550;
(9) an interstate state trust company or international trust company with a trust office authorized by the department under Alaska Stat. § 06.26.810 – 06.26.895;
(10) a trustee of only charitable trusts, does not offer fiduciary services to the general public with regard to noncharitable trusts, and observes the requirements applicable to trustees under Alaska Stat. § 13.36.225 – 13.36.290 (Alaska Uniform Prudent Investor Act); or
(11) a federally chartered credit union having its principal office in this state and authorized by the National Credit Union Administration to act as a fiduciary.
(b) In this section, “branch bank” has the meaning given in Alaska Stat. § 06.05.990.
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