Section 3 AAC 04.020 - Exemptions(a) For purposes of the exemptions set out in AS 06.26.020(a)(1) and (9), the maximum number of trusts may not exceed 25 for each person who qualifies for one or more of the exemptions set out in AS 06.26.020(a)(1) and (9), unless the person who otherwise qualifies under one or more of those exemptions applies for and receives prior written permission from the department in order to serve as the sole, individual trustee for more than 25 trusts.(b) For purposes of the exemption set out in AS 06.26.020(a)(18), the maximum number of settlors may not exceed 25.(c) A person claiming an exemption under AS 06.26.020(a)(1), (9), and (18) shall maintain and provide evidence of compliance with (a) - (b) of this section, and shall initially notify the department, on forms provided by the department, which exemption the person is claiming.Eff. 3/29/2008, Register 185Authority:AS 06.26.020
AS 06.26.900