If the department revokes a trust company's certificate of authority under AS 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.
AS 06.26.750
Authority to take possession
Known as the Revised Alaska Trust Company Act
The act spans §§ 6–6 (88 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.