(a) This subchapter applies to a transfer or declaration creating a custodial trust that refers to this subchapter if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property is located in this state. The custodial trust remains subject to this subchapter despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this state.
(b) A transfer made pursuant to an act of another state substantially similar to this subchapter is governed by the law of that state and may be enforced in this state.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 72 - Particular Trusts
Subchapter 4 - Arkansas Custodial Trust Act
§ 28-72-402. Custodial trust — General
§ 28-72-403. Custodial trustee for future payment or transfer
§ 28-72-404. Form and effect of receipt and acceptance by custodial trustee — Jurisdiction
§ 28-72-405. Transfer to custodial trustee by fiduciary or obligor — Facility of payment
§ 28-72-406. Multiple beneficiaries — Separate custodial trusts — Survivorship
§ 28-72-407. General duties of custodial trustee
§ 28-72-408. General powers of custodial trustee
§ 28-72-409. Use of custodial trust property
§ 28-72-410. Determination of incapacity — Effect
§ 28-72-411. Exemption of third person from liability
§ 28-72-412. Liability to third person
§ 28-72-414. Expenses, compensation, and bond of custodial trustee
§ 28-72-416. Limitations of action against custodial trustee
§ 28-72-417. Distribution on termination
§ 28-72-418. Methods and forms for creating custodial trusts