(a) The Alaska Mental Health Trust Authority, established by Alaska Stat. § 44.25.200 , is the trustee of the trust established under the Alaska Mental Health Enabling Act of 1956, P.L. 84-830, 70 Stat. 709.
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
Trustee: A person or institution holding and administering property in trust.
(b) In exercising the powers, duties, and responsibilities as trustee, the authority is under a duty to the public and the trust beneficiaries to
(1) administer the trust consistent with Alaska Stat. § 37.14.009 in the interest of the beneficiaries;(2) keep and render clear and accurate accounts with respect to the administration of the trust;(3) make public and available complete and accurate information as to the nature and amount of the trust property;(4) exercise a high degree of care in administering the trust;(5) take reasonable steps to take and keep control of the trust property;(6) use care and skill to preserve the trust property;(7) take reasonable steps to realize on claims that are held in trust;(8) defend against actions that may result in a loss to the trust estate, unless under all the circumstances, considering the other duties owed to the trust, it is reasonable not to make the defense;(9) separately account for trust property;(10) ensure that trust property is designated as property of the trust;(11) use care and skill to make the trust property productive; however, nothing in this paragraph shall prevent the state from using trust property directly or indirectly, by contractual stipulation or otherwise, as a component of the state’s mental health trust program; and(12) deal impartially with the different trust beneficiaries as provided in Alaska Stat. § 44.25.290 .
