(a) Except as otherwise provided in subsection (b) of this section, trustees who invest and manage trust assets owe a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in §§ 24-2-610 — 24-2-619.
(b)
(1) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust.
(2) Trustees are not liable to a beneficiary to the extent that the trustees acted in reasonable reliance on the provisions of the trust.
Structure Arkansas Code
Title 24 - Retirement And Pensions
Chapter 2 - Public Employee Retirement Plans Generally
Subchapter 6 - State Retirement Systems Investments
§ 24-2-601. Investment authority and limitations generally
§ 24-2-602. Investment authority and limitations — Permissible investments
§ 24-2-603. Investment authority and limitations — Default setoff
§ 24-2-604. Investment authority and limitations — Conflict of interest
§ 24-2-605. Investment authority and limitations — Fidelity bonds
§ 24-2-606. Investment authority and limitations — Custodianship of assets
§ 24-2-607. Investment authority and limitations — Trust account
§ 24-2-608. Investment authority and limitations — Arkansas-related investments
§ 24-2-609. Registration of securities in name of nominee — Powers and duties of nominee
§ 24-2-610. Prudent investor rule
§ 24-2-611. Standard of care — Portfolio strategy — Risk and return objectives
§ 24-2-613. Duties at inception of trusteeship
§ 24-2-616. Investment costs — Limitations on investment authority
§ 24-2-617. Reviewing compliance
§ 24-2-618. Delegation of investment and management functions