Section 06.26.580. Trust asset transactions involving certain securities, assets, or information.

Latest version.

   (a) Except as provided in this chapter, or as authorized under the instrument creating the relationship, a trust company may not invest trust assets in the stock or obligations of, or use trust assets to acquire property from, the trust company or any of the trust company's officers, directors, or employees. A trust company may not sell trust assets to the trust company or to any of the trust company's directors, officers, or employees.
   (b) A trust company may not use material inside information in connection with a decision or recommendation to purchase or sell a security that is a trust asset.

Authorities

6.26.585

Notes

References

AS 6.26.585 .585">Sec. 06.26.585. Policies and procedures.

History

(Sec. 2 ch 77 SLA 2002)

                    
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