Sec. 13.36.320. Nonqualified persons serving as trustees.

153 words·~1 min read·/ak/title-13/chapter-36/13-36-320

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)If at least one qualified person serves as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035 (c), then the following persons also may serve as trustees even though they are not qualified persons:

(1)individuals who do not reside in the state;

(2)trust companies that have their principal place of business outside the state and that are not organized under AS 06.26 ; and

(3)banks that have their principal place of business outside the state or that are not organized under AS 06.05 .

(b)Notwithstanding other provisions of law to the contrary, a trustee who is not a qualified person is not considered to be engaging in business in this state solely by reason of serving as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035 (c).