(a) Subject to § 28-76-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) Subject to § 28-76-111, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance.
(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 76 - Uniform Directed Trust Act [Effective January 1, 2020]
§ 28-76-101. Title. [Effective January 1, 2020.]
§ 28-76-102. Definitions. [Effective January 1, 2020.]
§ 28-76-103. Application — Principal place of administration. [Effective January 1, 2020.]
§ 28-76-104. Common law and principles of equity. [Effective January 1, 2020.]
§ 28-76-105. Exclusions. [Effective January 1, 2020.]
§ 28-76-106. Powers of trust director. [Effective January 1, 2020.]
§ 28-76-107. Limitations on trust director. [Effective January 1, 2020.]
§ 28-76-108. Duty and liability of trust director. [Effective January 1, 2020.]
§ 28-76-109. Duty and liability of directed trustee. [Effective January 1, 2020.]
§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
§ 28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.]
§ 28-76-112. Application to trustee. [Effective January 1, 2020.]
§ 28-76-113. Limitation of action against trust director. [Effective January 1, 2020.]
§ 28-76-114. Defenses in action against trust director. [Effective January 1, 2020.]
§ 28-76-115. Jurisdiction over trust director. [Effective January 1, 2020.]
§ 28-76-116. Office of trust director. [Effective January 1, 2020.]
§ 28-76-117. Uniformity of application and construction. [Effective January 1, 2020.]