Sec. 13.38.450. Requirements for making election.
93 words·~1 min read·
/ak/title-13/chapter-38/13-38-450A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 13.38.450. Requirements for making election.
To make an election under AS 13.38.440 — 13.38.490, the trustee shall adopt and follow an investment policy seeking a total return for the investments held by the trust, whether the return is to be derived from appreciation of capital or earnings and distributions with respect to capital or both. The policy constituting the election must be in writing, must be maintained as part of the permanent records of the trust, and must recite that it constitutes an election to be governed by AS 13.38.440 — 13.38.490.