(a) If at least one qualified person serves as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035(c), then the following persons also may serve as trustees even though they are not qualified persons:
(1) individuals who do not reside in the state;
(2) trust companies that have their principal place of business outside the state and that are not organized under AS 06.26; and
(3) banks that have their principal place of business outside the state or that are not organized under AS 06.05.
(b) Notwithstanding other provisions of law to the contrary, a trustee who is not a qualified person is not considered to be engaging in business in this state solely by reason of serving as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035(c).
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