Alaska § 06.26.370 - Deposits of trust assets.
Full text of Alaska Alaska Statutes § 06.26.370 — Deposits of trust assets., with citation guidance and answers to common questions.
§ 06.26.370. Deposits of trust assets.
(a) A trust company may deposit trust money or other trust assets with itself as an investment if the settlor or the beneficiary authorizes the deposit and if (1) the trust company maintains as security for the deposits a separate fund of securities that may be used for trust investments and that are under the control of a federal reserve bank or a clearing corporation in this state or elsewhere; in this paragraph, “clearing corporation” has the meaning given in AS 45.08.102 ;
(2) the total market value of the security fund maintained under (1) of this subsection is at all times at least equal to the deposit;
(3) the security fund maintained under (1) of this subsection is expressly designated as a security fund; and
(4) the security fund maintained under (1) of this subsection is maintained under the control of a person listed in AS 06.26.010 (a).
(b) A trust company may make periodic withdrawals from or additions to the security fund required by (a) of this section if the trust company maintains the value required by (a) of this section for the security fund. Income from the securities in the security fund belongs to the trust company.
(c) Notwithstanding (a) of this section, security under (a) of this section for a deposit is not required to the extent the deposit is insured by the Federal Deposit Insurance Corporation or its successor.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 06.26.370
What does Alaska Statutes § 06.26.370 cover?
Section 06.26.370 ("Deposits of trust assets.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 06.26.370?
A common citation format is "Alaska Statutes § 06.26.370" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 06.26.370 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.