Advertising with us can place you in front of thousands of visitors a day. Learn more!
![](http://www.touchngo.com/images/bsiad_sm.jpg) |
|
![](http://www.touchngo.com/images/tngad_sm.jpg) |
- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 36. Trust Administration
- Section 72. Co-Trustees.
previous:
Section 71. Accepting or Rejecting Trusteeship.
next:
Section 73. Vacancy in Trusteeship; Appointment of Successor.
AS 13.36.072. Co-Trustees.
(a) Except as otherwise provided in the trust instrument,
(1) co-trustees who are unable to reach a unanimous decision may decide to act by majority decision;
(2) if a vacancy occurs in a co-trusteeship, the remaining co-trustee or co-trustees may continue to act for the trust with full authority;
(3) a co-trustee shall participate in the performance of the co-trustee's function unless
(A) the co-trustee is unavailable to perform the function because of absence, illness, disqualification under other law, or temporary incapacity; or
(B) the co-trustee has properly delegated the performance of the function to another co-trustee;
(4) if a co-trustee is unavailable to perform duties because of absence, illness, disqualification under other law, or temporary
incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining
co-trustee or a majority of the remaining co-trustees may act with full authority for the trust.
(b) Except as prohibited by the terms of the trust, a co-trustee may, by a signed, written instrument, delegate to a co-trustee the
performance of a function. Unless a delegation is irrevocable, a co-trustee may revoke a delegation.
(c) Notwithstanding the other provisions of this section, if the terms of a trust instrument provide for the appointment of more than one
trustee but confer on one or more of the trustees, to the exclusion of other trustees, the power to direct or prevent specified actions of
other trustees, the excluded trustees shall act in accordance with the exercise of the power. An excluded trustee under this subsection is not
liable, individually or as a fiduciary, for a consequence that results from complying with the exercise of the power, regardless of the
information available to the excluded trustee. An excluded trustee does not have an obligation to review, inquire, investigate, or make
recommendations or evaluations with respect to the exercise of the power. A trustee having the power is liable to the beneficiaries as a
fiduciary with respect to the exercise of the power as if the excluded trustees were not in office and has the exclusive obligation to
account to and to defend an action brought by the beneficiaries with respect to the exercise of the power. In this subsection, “power” means
the power to direct or prevent specified actions by other trustees.
All content © 2024 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.