Alaska § 13.36.079 - Certification of trust; penalty.

§ 13.36.079. Certification of trust; penalty.

 (a) Except as otherwise provided in the trust instrument, instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information:        (1) that the trust exists and the date the trust instrument was executed;

 (2) the identity of the settlor;

 (3) the identity and address of the currently acting trustee;

 (4) the powers of the trustee;

 (5) the revocability or irrevocability of the trust and the identity of any person holding a power to revoke the trust;

 (6) the authority of co-trustees to sign or otherwise authenticate documents related to the trust and whether all or fewer than all co-trustees are required to exercise the trustee powers;

 (7) the trust's taxpayer identification number, if the trust has a taxpayer identification number; and

 (8) the manner of taking title to the property of the trust.

 (b) A certification of trust may be signed or otherwise authenticated by any trustee.

 (c) A certification of trust must state that the trust has not been revoked, modified, or amended in a manner that would cause the representations contained in the certification of trust to be incorrect.

 (d) A certification of trust is not required to contain the dispositive terms of a trust.

 (e) A recipient of a certification of trust may require the trustee to furnish copies of the excerpts from the original trust instrument, including amendments to the trust that designate the trustee and confer on the trustee the power to act in the pending transaction for which the certification of trust is being furnished.

 (f) A person who acts in reasonable reliance on a certification of trust without knowledge that the representations contained in the certification of trust are incorrect is not liable to another person for acting in reasonable reliance on the certification of trust and may assume without inquiry the existence of the facts contained in the certification. Knowledge of the terms of the trust may not be inferred solely because the person relying on the certification is holding a copy of part of the trust instrument.

 (g) A person who in good faith enters into a transaction in reasonable reliance on a certification of trust may enforce the transaction against the trust property as if the representations contained in the certification were correct.

 (h) A person making a demand for the trust instrument in addition to a certification of trust or excerpts from the trust instrument is liable to the state for a civil penalty not to exceed $1,000, plus the actual damages associated with the demand for the trust instrument, if a court determines that the person did not act in good faith in demanding the trust instrument.

 (i) A person who is found liable for a civil penalty under (h) of this section shall also be liable for actual court costs and attorney fees associated with a demand made under (h) of this section.

 (j) This section does not limit the right of a person to obtain a copy of the trust instrument in a judicial proceeding concerning the trust.