reglab/housing_qa huggingface dataset:
AK Stat § 13.36.076 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.076. Removal of trustee.

(a) A trustee may be removed from office (1) by the decision of a trust protector under AS 13.36.370(b)(1); (2) by the decision of another person specified in the trust instrument; (3) under a procedure specified in the trust instrument; (4) by a court on petition by the settlor, a co-trustee, a qualified beneficiary, or the court on its own initiative, if (A) the court finds there is a basis for removal under (b) of this section, there is not a trust protector or another specified person who is currently acting and who may be contacted by the settlor, trustee, or qualified beneficiary in person, by mail, electronically, or by another means, and there is not a procedure for removal specified in the trust instrument; or (B) notwithstanding the appointment of a trust protector under AS 13.36.370 or the existence of a procedure for trustee removal specified in the trust instrument, there has been a serious breach of trust as specified under (b)(1) of this section. (b) A trustee may be removed from office under (a)(4) of this section if the court finds that removal would be in the best interests of all the beneficiaries and, (1) for (a)(4)(A) or (B) of this section, the trustee has committed a serious breach of trust under the terms of the trust and AS 13.36.070 - 13.36.290; or (2) for (a)(4)(A) of this section, (A) lack of cooperation among co-trustees substantially impairs the administration of the trust; (B) a trustee is unfit, is unwilling, or persistently fails to administer the trust effectively; or (C) there has been a substantial change of circumstances not anticipated by the settlor, removal is requested by all of the qualified beneficiaries, the court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable co-trustee or successor trustee is available. (c) When appointing a successor trustee, the court shall first consider the successor trustees named in the trust or, if the trust is a testamentary trust, in the testator's will, or, if a successor is not named, another procedure contained in the instrument for the appointment of a successor. When selecting a successor trustee, the court shall also consider the tax, creditor liability, and similar consequences of selecting a certain individual or institution. (d) Pending a final decision on a petition to remove a trustee, or instead of or in addition to removing a trustee, the court may order relief that is appropriate and necessary to protect the trust property or the interest of the beneficiaries. (e) A qualified beneficiary who may be represented and bound by another person under AS 13.06.120 may have the qualified beneficiary's consent to the removal of a trustee as specified in this section given by the person who may represent the qualified beneficiary under AS 13.06.120.
AK Stat § 13.36.077 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.077. Delivery of property by former trustee.

Except as otherwise provided in the trust instrument, (1) unless a co-trustee remains or the court otherwise orders, and until the trust property is delivered to a successor trustee or another person entitled to the trust property, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property; (2) a trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property in the trustee's possession to a co-trustee, a successor trustee, or another person entitled to the trust property.
AK Stat § 13.36.078 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.078. Reimbursement of expenses.

Except as otherwise provided in the trust instrument, (1) a trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for (A) expenses that were properly incurred in the administration of the trust; and (B) expenses that were not properly incurred in the administration of the trust to the extent necessary to prevent unjust enrichment of the trust; (2) if the trustee advances money for the protection of the trust, the trustee has a lien against trust property to secure reimbursement of the money and payment of reasonable interest on the money.
AK Stat § 13.36.080 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.080. Duty to inform and account to beneficiaries.

(a) The trustee shall keep the beneficiaries of the trust reasonably informed of the trust and its administration. In addition, (1) within 30 days after acceptance of the trust, the trustee shall inform in writing the current beneficiaries and, if possible, one or more persons who under AS 13.06.120 may represent beneficiaries with future interests, of the court in which the trust is registered and of the trustee's name and address; (2) upon reasonable request, the trustee shall provide the beneficiary with a copy of the terms of the trust that describe or affect the beneficiary's interest and with relevant information about the assets of the trust and the particulars relating to the administration; (3) upon reasonable request, a beneficiary is entitled to a statement of the accounts of the trust annually and on termination of the trust or change of the trustee. (b) The settlor of a trust may exempt a trustee from the duties under (a) of this section to provide notification or information regarding the trust to a beneficiary who is not entitled to a mandatory distribution of income or principal from the trust on an annual or more frequent basis. The settlor may provide the exemption by provision in the instrument creating the trust if the trust is created by a writing, by an amendment of the trust if the settlor reserved the power to amend the trust, or by a written document after the trust is created. The exemption may not exceed in duration the shorter of the settlor's lifetime or a judicial determination of the settlor's incapacity. (c) If a settlor provides for an exemption under (b) of this section and a beneficiary with a future interest (1) who is not a beneficiary entitled to a mandatory distribution of income or principal from the trust on an annual or more frequent basis receives a distribution, the trustee shall provide notification or information limited to the accounting period during which the distribution was made; (2) becomes a beneficiary entitled to a mandatory distribution of income or principal from the trust on an annual or more frequent basis, the trustee shall provide notification and information as required under AS 13.16 and (a) of this section.
AK Stat § 13.36.085 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.085. Bonding.

A trustee need not provide bond to secure performance of the trustee's duties unless required by the terms of the trust, reasonably requested by a beneficiary, or found by the court to be necessary to protect the interests of the beneficiaries who are not able to protect themselves and whose interests otherwise are not adequately represented. On petition of the trustee or other interested person, the court may excuse a requirement of bond, reduce the amount of the bond, release the surety, or permit the substitution of another bond with the same or different sureties. If bond is required, it shall be filed in the court of registration or other appropriate court in amounts and with sureties and liabilities as provided in AS 13.16.260 and 13.16.270 relating to bonds of personal representatives.
AK Stat § 13.36.090 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.090. Trustee's duty; appropriate place of administration; deviation.

A trustee is under a continuing duty to administer the trust at a place appropriate to the purposes of the trust and to its sound, efficient management. If the principal place of administration becomes inappropriate for any reason, the court may enter any order furthering efficient administration and the interests of beneficiaries, including, if appropriate, release of registration, removal of the trustee under AS 13.36.076, and appointment of a trustee in another state. Trust provisions relating to the place of administration and to changes in the place of administration or of trustee control unless compliance would be contrary to efficient administration or the purposes of the trust.
AK Stat § 13.36.095 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.095. Personal liability of trustee to third parties.

(a) [Repealed, § 22 ch 105 SLA 1998.]  (b) Subject to AS 13.36.105 - 13.36.220, a trustee is personally liable for obligations arising from ownership or control of property of the trust estate or for torts committed in the course of administration of the trust estate only if personally at fault. (c) Claims based on contracts entered into by a trustee in a fiduciary capacity, on obligations arising from ownership or control of the trust estate, or on torts committed in the course of trust administration may be asserted against the trust estate by proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for them. (d) The question of liability as between the trust estate and the trustee individually may be determined in a proceeding for accounting surcharge or indemnification or other appropriate proceeding.
AK Stat § 13.36.105 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.105. Powers attached to the office of trustee.

Unless otherwise provided by the trust instrument, an amendment of the trust instrument, or a court order, the powers of a trustee are attached to the office and are not personal.
AK Stat § 13.36.107 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.107. General powers.

(a) Without authorization by a court, a trustee may exercise the powers conferred by the terms of the trust and, except as limited by the terms of the trust, the powers conferred by this chapter. (b) This chapter does not affect the power of a court to (1) relieve a trustee from provisions contained in the terms of the trust that restrict the exercise of powers; (2) confer on a trustee additional powers, whether or not the powers are authorized by the terms of the trust; or (3) restrict the exercise of a power otherwise given to the trustee by the terms of the trust or this chapter. (c) The grant of a power to a trustee, whether under the terms of the trust, this chapter, or a court, does not alone govern the exercise of the power.
AK Stat § 13.36.110 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.110. Liability of trustee relating to exercise of power.

A dissenting trustee who has joined another trustee in exercising a power is not liable to the beneficiaries or to others for the consequences of the exercise of the power if the dissenting trustee joins because of a requirement for unanimous trustee consent to the exercise of the power. The dissenting trustee's dissent must be presented in writing to a co-trustee and a legally competent beneficiary or, if the beneficiary is a minor or an incompetent person, the representative of the beneficiary. A trustee who is not authorized to exercise a power is not liable to the beneficiaries or to others for (1) the exercise by a co-trustee of the power; or (2) the failure to exercise that power.
AK Stat § 13.36.120 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.120. Voting of corporate stock owned by trustee.

A trustee of a trust owning corporate stock is liable for a loss resulting to the beneficiaries from a failure to use reasonable care in deciding how to vote the stock and in voting the stock only if personally at fault.
AK Stat § 13.36.125 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.125. Creation of trust bank account to pay special debts.

Whenever a bank account is, by entries made on the books of the depositor and the bank at the time of the deposit, created exclusively for the purpose of paying dividends, interest, interest coupons, salaries, wages, or pensions or other employee benefits, and the depositor at the time of opening the account does not expressly declare otherwise, the depositor is considered a trustee of the account for the creditors to be paid from the account, subject to any power of revocation that the depositor may have reserved by agreement with the bank.
AK Stat § 13.36.130 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.130. Failure of beneficiary to present claim for payment.

If a beneficiary for whom a trust bank account is created under AS 13.36.125 does not present the beneficiary's claim to the bank for payment within one year after the claim is due, the depositor who created the trust may revoke the trust as to the beneficiary.
AK Stat § 13.36.135 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.135. Holding stock in name of nominee.

(a) A trustee of a trust owning stocks, bonds, notes, debentures, or other written obligations of a public or private corporation may hold the obligations in the name of a nominee, without mention of the trust in the records of the corporation or in the stock certificate or stock registration book of the corporation, if (1) the trust records and all reports or accounts rendered by the trustee clearly show the ownership of the stocks, bonds, notes, debentures, or other written obligations of the public or private corporation by the trustee and the facts regarding the holding by the trustee; and (2) the nominee deposits with the trustee a signed statement showing the trust ownership, endorses the stock certificate or other title instruments for the obligations in blank, and does not have possession of or access to the stock certificate or other title instruments for the obligations except under the immediate supervision of the trustee. (b) A trustee holding obligations under (a) of this section is personally liable for a loss to the trust resulting from an act of the nominee in connection with the stocks, bonds, notes, debentures, or other written obligations held under (a) of this section.
AK Stat § 13.36.140 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.140. Loan of trust funds.

Except as provided in AS 13.36.145, a corporate trustee may not lend trust funds to itself or an affiliate, or to a director, an officer, or an employee of itself or an affiliate, and a noncorporate trustee may not lend trust funds to itself or to a relative, an employer, an employee, or a partner or other business associate.
AK Stat § 13.36.145 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.145. Corporate trustee depositing trust funds with itself.

(a) A corporate trustee that is subject to regulation and supervision by state or federal authorities may deposit with itself trust funds that are being held out of necessity pending investment, distribution, or payment of debts if the corporate trustee (1) pays into the trust for the deposit the interest the corporate trustee is required by state or federal law to pay on uninvested trust funds or, if there is not a state or federal law requiring the payment of interest, at the same rate of interest the corporate trustee pays on similar nontrust deposits; and (2) maintains in its trust department as security for the deposit a separate fund consisting of securities that are legal for trust investments and that are at all times equal in total market value to the amount of the deposit, except that the security is not required to the extent that the deposit is insured or given a preference by state or federal law. (b) The separate fund of securities required by (a)(2) of this section shall be marked as a separate fund for (a)(2) of this section. Withdrawals from or additions to the separate fund may be made from time to time, as long as the required value is maintained. The income of the securities in the separate fund belongs to the corporate trustee. In the statements of its financial condition published or delivered to the Department of Commerce, Community, and Economic Development, the corporate trustee shall show as separate items the amount of trust funds that it has deposited with itself and the amount of securities that it holds as security for the payment of the deposits.
AK Stat § 13.36.150 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.150. Trustee leasing, buying, or selling to or from itself or a related person.

A trustee, unless expressly authorized by the trust instrument, may not directly or indirectly lease, buy, or sell property for the trust from or to (1) itself or an affiliate; (2) a director, an officer, or an employee of the trustee or an affiliate; or (3) a relative, an employer, or a partner or other business associate.
AK Stat § 13.36.155 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.155. Permitted sales between trusts held by same corporate trustee.

If the transaction is fair to both trusts and if the transaction is not prohibited by the instruments creating the trustee relationship, a corporate trustee may sell to itself as trustee of a trust the following held by the corporate trustee as trustee for another trust: (1) stocks, bonds, and other securities listed on a securities exchange supervised by the United States Securities and Exchange Commission; and (2) obligations of the United States treasury and obligations of United States government agencies.
AK Stat § 13.36.160 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.160. Corporate trustee buying its own or an affiliate's securities.

A corporate trustee may not purchase for a trust shares of its own stock, or its bonds, or other securities, or the stock, bonds, or other securities of an affiliate.
AK Stat § 13.36.165 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.165. Withdrawals from mingled trust funds.

If a person who is a trustee of two or more trusts mingles the funds of two or more trusts in the same aggregate of cash or in the same bank or brokerage account or other investment, and if a withdrawal is made from the cash aggregate, account, or investment by the trustee for the trustee's own benefit, for the benefit of a third person who is not a beneficiary or creditor of one or more of the trusts, or for an unknown purpose, the withdrawal must be charged first to the amount of the personal cash, credit, or other property, if any, of the trustee in the mingled fund, and, after the exhaustion of the trustee's cash, credit, or other property, then to the several trusts in proportion to their several interests in the cash, credit, or other property in the cash aggregate, account, or investment at the time of the withdrawal. Nothing in this section is intended to authorize the mingling of trust funds.
AK Stat § 13.36.169 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 3. Trustees.|Sec. 13.36.169. Elections to qualify property for marital deduction and generation-skipping transfer tax allocations.

(a) Unless a governing instrument specifically refers to this section and provides otherwise, a trustee who makes an election under 26 U.S.C. 2056, 2056A, or 2523 (Internal Revenue Code), or who makes an allocation under 26 U.S.C. 2632 (Internal Revenue Code), may benefit personally from the election or allocation and is not required to reimburse another person interested in the election or allocation, to make an equitable adjustment, or to treat interested persons impartially with respect to the election or allocation. (b) Unless a governing instrument specifically refers to this section and provides otherwise, if an election is made under 26 U.S.C. 2056, 2056A, or 2523 (Internal Revenue Code), if an allocation is made under 26 U.S.C. 2632 (Internal Revenue Code), or if division of a trust benefits the persons interested in the trust, the trustee may divide the trust into two or more separate trusts of equal or unequal value if the terms of the separate resulting trusts are substantially identical to the terms of the trust before the division. The allocation of assets must be based on the fair market value of the assets at the time of the division. (c) Except as provided in (d) of this section, this section applies to (1) a trust that is created on or after August 9, 2000; or (2) the decisions and actions of a trust that is in existence on August 9, 2000 if the decisions are made or actions occur on or after August 9, 2000. (d) The application provisions of (c) of this section do not apply if (1) the terms of the trust, including the terms as amended, expressly provide that this section does not apply and either specifically refer to this section or otherwise clearly demonstrate the intent that this section does not apply; or (2) the trust is irrevocable and all parties in interest elect not to be subject to the application of this section; an election under this paragraph must be made on or before January 1, 2003, or three years after the date on which the trust becomes irrevocable, whichever date is later; however, notwithstanding AS 13.36.080, the trustee does not have a duty to inform the parties in interest of this election; the election allowed under this paragraph must be made by a written declaration delivered to the trustee.