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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 26. Revised Alaska Trust Company Act
- Section 550. Trust Committee.
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. Prohibition of Certain Action By Officer or Employee.
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AS 06.26.550. Trust Committee.
- (a) The board may appoint a trust committee to act for the company in matters dealing with the initial and annual reviews
of accounts, account acceptance, and investment strategies. A trust committee shall consist solely of directors,
officers, or employees of the trust company, or any combination of these positions. The trust committee shall keep a
record of its actions and shall report in writing to the board on all actions taken by the trust committee since the
previous board meeting. The board shall ratify or rescind each action.
- (b) The trust committee shall meet at least once a month to review existing accounts and to ratify or rescind newly
accepted accounts. The trust committee may not ratify a new account unless it is approved by a majority of the members
of the trust committee present at the meeting at which the new account is considered.
- (c) A trust committee may elect one or more officers to accept new accounts, subject to the requirements of (b) of this
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