(a) Notwithstanding other provisions of law and except as provided in AS 06.26.020, a person may not act as a fiduciary in this state unless the person is
(1) a trust company organized under this chapter;
(2) a private trust company that has received an exemption under AS 06.26.200;
(3) a state financial institution;
(4) a national bank having its principal office in this state and authorized by the United States Comptroller of the Currency to act as a fiduciary;
(5) a federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
(6) an international bank that has a branch bank in this state established or maintained under AS 06.05.550; in this paragraph, “international bank” has the meaning given in AS 06.05.990;
(7) an interstate national bank with a branch bank in this state established or maintained under AS 06.05.550; in this paragraph, “interstate national bank” means a national bank whose principal office, as designated in the bank's articles of incorporation, is not located in this state;
(8) an entity that
(A) is organized under the laws of a state of the United States other than this state;
(B) holds a charter, license, certificate, or other type of authorization from this or another state of the United States to engage in banking; and
(C) has a branch bank located in this state established or maintained under AS 06.05.550;
(9) an interstate state trust company or international trust company with a trust office authorized by the department under AS 06.26.810 - 06.26.895;
(10) a trustee of only charitable trusts, does not offer fiduciary services to the general public with regard to noncharitable trusts, and observes the requirements applicable to trustees under AS 13.36.225 - 13.36.290 (Alaska Uniform Prudent Investor Act); or
(11) a federally chartered credit union having its principal office in this state and authorized by the National Credit Union Administration to act as a fiduciary.
(b) In this section, “branch bank” has the meaning given in AS 06.05.990.
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