(a) Except as otherwise provided in subsection (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this subchapter.
(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 73 - Arkansas Trust Code
Subchapter 9 - Uniform Prudent Investor Act
§ 28-73-901. Prudent investor rule
§ 28-73-902. Standard of care — Portfolio strategy — Risk and return objectives
§ 28-73-904. Duties at inception of trusteeship
§ 28-73-905. Reviewing compliance
§ 28-73-906. Language invoking standard of subchapter