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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) A trust company shall be incorporated under AS 10.06.
(b) In addition to the items required under AS 10.06.208 to be included in articles of incorporation, the articles of incorporation of a trust company must specify
(1) the judicial district where the trust company will be located and the community where the trust company will locate its principal place of business;
(2) the amount of the trust company's stock, which must be divided into shares having a par value of not less than $1 each;
(3) that there will be at least five but not more than 25 directors;
(4) the period for which the trust company is organized, whether limited or perpetual;
(5) the name by which the trust company will be known, which must contain the words “trust company” as a part of the name; and
(6) a declaration that each incorporator will, if elected, accept the responsibilities and faithfully discharge the duties of a director.
Cite this article: FindLaw.com - Alaska Statutes Title 6. Banks and Financial Institutions § 06.26.070. Incorporation - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-6-banks-and-financial-institutions/ak-st-sect-06-26-070/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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