(a) Consistent with Alaska Stat. § 06.01.030 and regulations adopted by the department under Alaska Stat. § 06.01.030 or this chapter, the department may determine that

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Alaska Statutes 06.26.880

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • chapter: includes regulations adopted under this chapter. See Alaska Statutes 06.26.990
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.26.990
  • home jurisdiction regulator: means the governmental agency responsible for regulating an interstate state trust company, interstate national trust company, or international trust company in the jurisdiction where the trust company is chartered or otherwise organized. See Alaska Statutes 06.26.990
  • international trust company: means an organization that provides fiduciary services and has offices in countries other than the country in which the home office of the entity is located. See Alaska Statutes 06.26.990
  • interstate state trust company: means an organization that
    (A) provides fiduciary services. See Alaska Statutes 06.26.990
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • trust company: means a person who is organized under this chapter to act as a fiduciary and to provide fiduciary services to the general public. See Alaska Statutes 06.26.990
(1) an office maintained by an interstate state trust company or international trust company is being operated in violation of a provision of the laws of this state or in an unsafe and unsound manner; or
(2) an interstate state trust company or international trust company is engaged in an activity that the trust company may not engage in under this chapter.
(b) If either of the conditions in (a) of this section exists, the department may take the enforcement actions it would be empowered to take if the office or the company were a trust company established under this chapter, including issuing an order temporarily or permanently prohibiting the trust company from acting as a fiduciary in this state.
(c) If a matter involves extraordinary circumstances that require immediate action, the department may take any action permitted by this section without providing notice or an opportunity for a hearing before taking the action. The department shall promptly give notice to the home jurisdiction regulator of each enforcement action taken against an interstate state trust company or international trust company and, to the extent practicable, shall consult and cooperate with the home jurisdiction regulator when pursuing and resolving an enforcement action.
  Previous section
Next section  
 Article 11 Contents