Section 13.36.043. Change of situs to Alaska.

   (a) The situs of a foreign trust is moved to this state when the trust satisfies the conditions listed in AS 13.36.035(c)(1) - (4) and a qualified person serving as trustee registers the trust under AS 13.36.010.
   (b) If the situs of a foreign trust is moved to this state as provided in this section, a provision in the trust that restricts the transfer of trust assets in a manner similar to AS 34.40.110, that allows the trust to be perpetual, or that is not expressly prohibited by the law of this state is effective and enforceable under the laws of this state.
   (c) A foreign trust that moves its situs to this state is valid whether or not the trust complied with the laws of this state at the time of its creation or after its creation.
   (d) In this section, "foreign trust" means a trust that is created in another state or country and that is valid in that state or country.

Notes

History

(Sec. 9 ch 105 SLA 1998; am Sec. 3 ch 82 SLA 2004)