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AK HB406

Bill

Official Source

Status

Introduced

4/4/2022

Primary Sponsor

Labor & Commerce

Click for details

Origin

House of Representatives

32nd Legislature

AI Summary

  • Adds AS 13.36.380 to invalidate any trust where a settlor, trustee, trustor, or beneficiary is listed on the U.S. Department of the Treasury's Specially Designated Nationals and Blocked Persons List.

  • Amends AS 40.17.070 to prohibit recorders from recording documents conveying land to persons listed on the Specially Designated Nationals and Blocked Persons List at the time of proposed recording.

  • The trust formation prohibition does not apply retroactively to trusts formed before the Act's effective date.

Legislative Description

Moratorium On Trusts/property Acquisition

International Relations

Last Action

JUD REFERRAL ADDED AFTER L&C

4/20/2022

Committee Referrals

Labor & Commerce4/4/2022

Full Bill Text

No bill text available