Alaska Statutes Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions § 13.38.460. Selection of percentage after charitable trust election

(a) After a trustee has elected under AS 13.38.440 for the trust to be governed by AS 13.38.440--13.38.490, the trustee shall, in a writing maintained as part of the permanent records of the trust, select the percentage of the value of the trust that will be considered income and determine that it is consistent with the long-term preservation of the real value of the principal of the trust, but the percentage may not be less than two percent or more than seven percent each year of the principal value of the trust. The trustee may elect to change a percentage whenever the trustee determines that the new percentage is necessary and prudent.

(b) For a charitable trust required by 26 U.S.C. 4942 (Internal Revenue Code) to distribute a higher amount than the percentage selected under (a) of this section, the amount required by 26 U.S.C. 4942 (Internal Revenue Code) controls over the percentage selected.