Alaska Statutes 06.26.750 – Authority to take possession
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Terms Used In Alaska Statutes 06.26.750
- certificate of authority: means the certificate of authority issued to a corporation under Alaska Stat. See Alaska Statutes 06.26.990
- department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.26.990
- Fiduciary: A trustee, executor, or administrator.
- fiduciary: means a person to whom the property of another person is entrusted for a purpose specified in a trust instrument or by a court order. See Alaska Statutes 06.26.990
- fiduciary operations: means operations performed by a fiduciary. See Alaska Statutes 06.26.990
- 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
If the department revokes a trust company‘s certificate of authority under Alaska Stat. § 06.26.740(a), the department may take possession of the trust company’s fiduciary operations in this state and may appoint a receiver for the liquidation of the trust company’s fiduciary operations in this state. If the trust company has its principal place of business in this state, the department may take possession of, and appoint a receiver for the liquidation of all the trust company’s fiduciary operations wherever they are conducted.