Alaska Statutes.
Title 6. Banks and Financial Institutions
Chapter 65. Alaska Savings Program for Eligible Individuals
Section 110. Representative of Eligible Individual.
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AS 06.65.110. Representative of Eligible Individual.

(a) A person may act as the representative of an eligible individual under this chapter if the eligible individual is a minor or lacks decision-making capacity and if the person is

(1) a parent, guardian, or conservator of the eligible individual; in this paragraph,

(A) “conservator” has the meaning given in AS 13.06.050;

(B) “guardian” has the meaning given in AS 13.06.050;

(C) parent” includes a stepparent; or

(2) a trustee of the property of the eligible individual.

(b) The representative of an eligible individual may establish a program account for the eligible individual, and the eligible individual is the designated beneficiary of the program account. The representative shall manage the program account for the benefit of the designated beneficiary.

(c) In this section, “decision-making capacity” means the ability to understand and appreciate the nature and consequences of a decision and the ability to reach and communicate an informed decision.

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