Alaska Administrative Code

Fees charged by a trust company for investing and managing trust assets must be fully and clearly disclosed to the customer. Fees that must be disclosed under this section include fees charged by third parties which are passed on to the customer by the trust company. Notes 3 AAC …

(a) If the department, acting to reorganize a trust company under AS 06.26.770, requires a change in control of a trust company, the department may waive the requirements of AS 06.26.450-06.26.470. (b) In a public notice required under AS 06.26.770 for the department's reorganiza…

(a) An application for acquisition of control required by AS 06.26.460 must contain (1) the identity, trust experience, and business experience of each person by whom or on whose behalf acquisition is to be made; (2) the terms and conditions of any proposed acquisition and the ma…

(a) A notice that is made in accordance with AS 06.26.460 must be published once each week for two successive weeks. The notice must state (1) the date the application was filed with and accepted by the department; (2) the name and address of each participant in the acquisition o…

(a) The trust company shall report to the department any change in directors and officers. The trust company shall file with the department a certified copy of the affidavit required by AS 06.26.510(e) together with a resume of each new director. The trust company shall file with…

If the department determines that an officer or employee of the trust company has been negligent, dishonest, reckless, or incompetent in the performance of official duties, the department may do one or more of the following: (1) fine the trust company; (2) suspend or revoke its c…

The board of directors of a trust company shall maintain, in addition to the insurance coverage identified in AS 06.26.620, adequate fire and liability insurance coverage for the trust facility and equipment. Notes 3 AAC 04.430 Eff. 3/29/2008, Register 185 Authority:AS 06.26.620 …

(a) A proposed conversion of a national bank whose main office is located in the state or a state bank whose main office is located in the state to a trust company must be accomplished under a conversion plan filed with and approved by the department. (b) The board of directors o…

(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 merge with a trust company, and a trust company may merge with another trust company, under a merger plan filed with and approved by the department. (b) Eac…

(a) A proposed consolidation of a national bank whose main office is located in the state or a state bank whose main office is located in the state with a trust company, or of a trust company with another trust company, shall be accomplished under a consolidation plan filed with …

(a) The board of directors of each national bank, state bank, and trust company proposing to merge or consolidate shall jointly or independently submit to the department an application for permission to implement the plan. (b) The application must include (1) an analysis by the e…

(a) A trust company that purchases all or substantially all of the assets of another trust company shall (1) document that purchase with a contract that specifies(A) the items purchased and liabilities assumed; (B) the monetary consideration; and (C) all other terms and condition…

(a) The board of a trust company that sells all or substantially all of the trust company's assets, with or without shareholder approval, must (1) document that sale with a contract that specifies(A) the items sold and liabilities assumed; (B) the monetary consideration; and (C) …

If a shareholder of a state bank or of a trust company dissents from a consolidation, merger, or conversion of the bank or trust company, the exercise of the dissenting shareholder's rights is subject to AS 10.06.574-10.06.582. Notes 3 AAC 04.570 Eff. 3/29/2008, Register 185 Auth…

An interstate state trust company or international trust company shall file reports in the same manner as, and at the times established for, reports required under AS 06.26.930. Notes 3 AAC 04.610 Eff. 3/29/2008, Register 185 Authority:AS 06.26.870 AS 06.26.900 State regulations …

If an interstate state trust company or international trust company maintains a trust office or a representative office in this state under this chapter, and if that trust company merges or consolidates with another entity or closes, the trust company shall file, with the notice …

A trust company shall retain a trust agreement, and the records pertaining to that trust agreement, for seven years after the trust is terminated. All other trust company records shall be maintained in accordance with 3 AAC 02.010. Any record required to be retained under this se…

(a) If an appeal is brought under AS 06.26.910, or on the department's own motion, the department will refer the appeal in accordance with AS 44.64.060 to the office of administrative hearings. However, a person may not obtain a hearing solely due to the person's status as a cust…

(a) A trust company shall prepare the quarterly reports of condition required under AS 06.26.930(a) on (1) the Federal Financial Institutions Examination Council (FFIEC) Consolidated Reports of Condition and Income form, Schedule RC-T (Fiduciary and Related Services); and (2) a f…

In AS 06.26 and this chapter, unless the context requires otherwise, (1) "department" means the Department of Commerce, Community, and Economic Development; (2) "executive" (A) means (i) the chair of the board of directors; (ii) the chief executive officer, the president, the tre…

Notes 3 AAC 05.010 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.110 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.120 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.130 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.140 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.150 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.160 Eff. 12/30/79, Register 72; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 05.170 Eff. 10/26/80, Register 76; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 05.180 Eff. 5/20/82, Register 82; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.190 Eff. 3/30/84, Register 89; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.195 Eff. 3/30/84, Register 89; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.197 Eff. 9/23/84, Register 91; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.200 Eff. 9/23/84, Register 91; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.202 Eff. 9/23/84, Register 91; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.205 Eff. 9/23/84, Register 91; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will …

Notes 3 AAC 05.210 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.220 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.230 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.240 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.250 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.260 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.270 Eff. 4/4/79, Register 70; am 12/31/80, Register 76; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More …

Notes 3 AAC 05.280 Eff. 4/4/79, Register 70; am 12/31/80, Register 76; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More …

Notes 3 AAC 05.290 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.410 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.420 Eff. 4/4/79, Register 70; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will b…

Notes 3 AAC 05.910 Eff. 4/4/79, Register 70; am 9/23/84, Register 91; repealed 10/16/2003, Register 168 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More c…

The following is the retention schedule for Alaskan savings banks: SCHEDULE FOR RETENTION OR DESTRUCTION OF RECORDS Key to Abbreviations P.S. or Opt.- Purpose served or Optional D - Destroy Months - Figure with ''mos.'' Years- Figures Permanently - P I. ADMINISTRATIVE MINUTE BOOK…

The provisions of 3 AAC 02.205 apply to a mutual savings bank. Notes 3 AAC 06.105 Eff. 12/27/2023, Register 248, January 2024 Authority:AS 06.15.240 AS 06.15.270 AS 44.33.020 State regulations are updated quarterly; we currently have two versions available. Below is a comparison …

(a) No bank may offer NOW accounts to its depositors unless NOW accounts are authorized by a bylaw or article of the bank and the bylaw or article is approved by the department. (b) A bank offering NOW accounts must conspicuously post and must make available to depositors a writt…