Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships

§ 28-66-118. Commitment to Veterans' Administration or other agency of United States Government - (1) Whenever, in any proceeding under the laws of this...

§ 28-66-119. Liberal construction - This chapter shall be so construed to make uniform the...

§ 28-66-120. Short title - This chapter may be cited as the “Uniform Veterans' Guardianship...

§ 28-66-121. Severability - If any provision of this chapter or application thereof to...

§ 28-66-122. Modification of prior laws - All acts or parts of acts relating to beneficiaries of...

§ 28-66-123. Application of chapter - The provisions of this chapter relating to surety bonds and...

§ 28-66-124. Time of taking effect - This chapter shall take effect from and after June 10,...

Chapter 67 - Conservators For The Aged And Disabled

§ 28-67-101. Chapter cumulative - The provisions of this chapter shall be cumulative to the...

§ 28-67-102. Jurisdiction of the court - (a) All laws relative to the jurisdiction of the circuit...

§ 28-67-103. Petition for appointment - A hearing may be had upon a petition for appointment...

§ 28-67-104. Notice of hearing - Notice of a hearing in a conservatorship proceeding shall be...

§ 28-67-105. Appointment - If, after a full hearing and examination upon the petition,...

§ 28-67-106. Persons ineligible as conservator - No person shall be appointed conservator of an estate who...

§ 28-67-107. Management of estate — Bond - (a) Every conservator appointed as provided in this chapter shall...

§ 28-67-108. Powers and duties - A conservator shall have the same powers and duties, except...

§ 28-67-109. Discharge - (a) A conservator may be discharged by the court upon...

§ 28-67-110. Compensation - The conservator shall receive as compensation for his or her...

§ 28-67-111. Subsequent appointment of guardian — Effect - Any subsequent appointment of a guardian of the ward as...

Chapter 68 - Uniform Power of Attorney Act

Subchapter 1 - General Provisions

§ 28-68-101. Short title - This chapter shall be known and may be cited as...

§ 28-68-102. Definitions - In this chapter: (1) “Agent” means a person granted authority...

§ 28-68-103. Applicability - This chapter applies to all powers of attorney except: (1)...

§ 28-68-104. Power of attorney is durable - A power of attorney created under this chapter is durable...

§ 28-68-105. Execution of power of attorney - A power of attorney must be signed by the principal...

§ 28-68-106. Validity of power of attorney - (a) A power of attorney executed in this state on...

§ 28-68-107. Meaning and effect of power of attorney - The meaning and effect of a power of attorney is...

§ 28-68-108. Nomination of guardian — Relation of agent to court-appointed fiduciary - (a) In a power of attorney, a principal may nominate...

§ 28-68-109. When power of attorney effective - (a) A power of attorney is effective when executed unless...

§ 28-68-110. Termination of power of attorney or agent's authority - (a) A power of attorney terminates when: (1) the principal...

§ 28-68-111. Coagents and successor agents - (a) A principal may designate two or more persons to...

§ 28-68-112. Reimbursement and compensation of agent - Unless the power of attorney otherwise provides, an agent is...

§ 28-68-113. Agent's acceptance - Except as otherwise provided in the power of attorney, a...

§ 28-68-114. Agent's duties - (a) Notwithstanding provisions in the power of attorney, an agent...

§ 28-68-115. Exoneration of agent - A provision in a power of attorney relieving an agent...

§ 28-68-116. Judicial relief - (a) The following persons may petition a court to construe...

§ 28-68-117. Agent's liability - An agent that violates this chapter is liable to the...

§ 28-68-118. Agent's resignation — Notice - Unless the power of attorney provides a different method for...

§ 28-68-119. Acceptance of and reliance upon acknowledged power of attorney - (a) For purposes of this section and § 28-68-120, “acknowledged”...

§ 28-68-120. Liability for refusal to accept acknowledged statutory form power of attorney - (a) In this section, “statutory form power of attorney” means...

§ 28-68-121. Principles of law and equity - Unless displaced by a provision of this chapter, the principles...

§ 28-68-122. Laws applicable to financial institutions and entities - This chapter does not supersede any other law applicable to...

§ 28-68-123. Remedies under other law - The remedies under this chapter are not exclusive and do...

Subchapter 2 - Authority

§ 28-68-201. Authority that requires specific grant — Grant of general authority - (a) An agent under a power of attorney may do...

§ 28-68-202. Incorporation of authority - (a) An agent has authority described in this subchapter if...

§ 28-68-203. Construction of authority generally - Except as otherwise provided in the power of attorney, by...

§ 28-68-204. Real property - Unless the power of attorney otherwise provides, language in a...

§ 28-68-205. Tangible personal property - Unless the power of attorney otherwise provides, language in a...

§ 28-68-206. Stocks and bonds - Unless the power of attorney otherwise provides, language in a...

§ 28-68-207. Commodities and options - Unless the power of attorney otherwise provides, language in a...

§ 28-68-208. Banks and other financial institutions - Unless the power of attorney otherwise provides, language in a...

§ 28-68-209. Operation of entity or business - Subject to the terms of a document or an agreement...

§ 28-68-210. Insurance and annuities - Unless the power of attorney otherwise provides, language in a...

§ 28-68-211. Estates, trusts, and other beneficial interests - (a) In this section, “estate, trust, or other beneficial interest”...

§ 28-68-212. Claims and litigation - Unless the power of attorney otherwise provides, language in a...

§ 28-68-213. Personal and family maintenance - (a) Unless the power of attorney otherwise provides, language in...

§ 28-68-214. Benefits from governmental programs or civil or military service - (a) In this section, “benefits from governmental programs or civil...

§ 28-68-215. Retirement plans - (a) In this section, “retirement plan” means a plan or...

§ 28-68-216. Taxes - Unless the power of attorney otherwise provides, language in a...

§ 28-68-217. Gifts - (a) In this section, a gift “for the benefit of”...

Subchapter 3 - Statutory Forms

§ 28-68-301. Statutory form power of attorney - A document substantially in the following form may be used...

§ 28-68-302. Agent's certification - The following optional form may be used by an agent...

Subchapter 4 - Miscellaneous Provisions

§ 28-68-401. Uniformity of application and construction - In applying and construing this uniform act, consideration must be...

§ 28-68-402. Relation to Electronic Signatures in Global and National Commerce Act - This chapter modifies, limits, and supersedes the federal Electronic Signatures...

§ 28-68-403. Effect on existing powers of attorney - Except as otherwise provided in this chapter, on January 1,...

§ 28-68-405. Effective date - This chapter takes effect January 1, 2012.

Chapter 69 - Fiduciaries Generally

Subchapter 1 - General Provisions

§ 28-69-101. Trust funds — Deposit for safekeeping - It shall be lawful for any party of whom a...

§ 28-69-102. Definitions - (a) As used in this section: (1) “Trust” means a...

Subchapter 2 - Banks and Trust Companies

§ 28-69-201. Definition - For the purposes of this subchapter, unless the context otherwise...

§ 28-69-202. Common trust funds - (a) (1) Any trust department of a state bank, national...

§ 28-69-203. Investments generally — Liability - (a) Any state bank, national bank, or trust company authorized...

§ 28-69-204. Registration or transfer of investments — Liability of third parties - If a fiduciary or the nominee of a fiduciary in...

§ 28-69-205. Investment in obligations of certain banks authorized - Notwithstanding any other provision of law, any funds, including capital,...

§ 28-69-206. Deposit of funds — Collateral for uninsured deposit - An Arkansas-chartered bank or savings and loan association that holds...

§ 28-69-207. Services provided by affiliates - Any state bank, national bank, or trust company qualified to...

Subchapter 3 - Incorporation of Powers by Reference

§ 28-69-301. Definitions - As used in this subchapter: (1) “Environmental law” means any...

§ 28-69-302. Power of court over fiduciary unaffected - Nothing contained in this subchapter shall be construed to limit...

§ 28-69-303. Incorporation by reference authorized — Effect - (a) By a clearly expressed intention of the testator or...

§ 28-69-304. Powers which may be incorporated - Without diminution or restriction of the powers vested in him...

§ 28-69-305. Compliance with environmental law - (a) The fiduciary shall be entitled to charge the cost...

Subchapter 4 - Revocation, Modification, or Termination of Trust

§ 28-69-401. Consent - (a) By written consent of the settlor and all named...

§ 28-69-402. Liability of trustee - A trustee of a trust that is sought to be...

§ 28-69-403. Revocation, etc., by other means not precluded - Nothing in this subchapter shall prevent revocation, modification, or termination...

Subchapter 5 - Retirement Plan — Spendthrift Trust

§ 28-69-501. Spendthrift trust - Any retirement plan which meets the requirements of section 401...

Subchapter 7 - Trustee Division of Trusts Act

§ 28-69-701. Short title - This subchapter may be cited as the “Trustee Division of...

§ 28-69-702. Definitions - As used in this subchapter: (1) “Trust” means any express...

§ 28-69-703. Authority to divide trusts - Unless expressly prohibited by the terms of the governing instrument,...

§ 28-69-704. Exercise of authority by trustee - (a) A trustee may exercise the authority granted in this...

§ 28-69-705. Effect of exercise of authority - If a trustee divides a trust into separate trusts under...

§ 28-69-706. Applicability - This subchapter applies to all trustees regardless of whether the...

Subchapter 8 - Uniform Prudent Management of Institutional Funds Act (2006)

§ 28-69-801. Short title - This subchapter may be cited as the Uniform Prudent Management...

§ 28-69-802. Definitions - In this subchapter: (1) “Charitable purpose” means the relief of...

§ 28-69-803. Standard of conduct in managing and investing institutional fund - (a) Subject to the intent of a donor expressed in...

§ 28-69-804. Appropriation for expenditure or accumulation of endowment fund — Rules of construction - (a) Subject to the intent of a donor expressed in...

§ 28-69-805. Delegation of management and investment functions - (a) Subject to any specific limitation set forth in a...

§ 28-69-806. Release or modification of restrictions on management, investment, or purpose - (a) If the donor consents in a record, an institution...

§ 28-69-807. Reviewing compliance - Compliance with this subchapter is determined in light of the...

§ 28-69-808. Application to existing institutional funds - This subchapter applies to institutional funds existing on or established...

§ 28-69-809. Relation to Electronic Signatures in Global and National Commerce Act - This subchapter modifies, limits, and supersedes the Electronic Signatures in...

§ 28-69-810. Uniformity of application and construction - In applying and construing this uniform act, consideration must be...

Chapter 70 - Uniform Principal And Income Act

Subchapter 1 - Definitions and Fiduciary Duties

§ 28-70-101. Short title - This chapter may be cited as the “Uniform Principal and...

§ 28-70-102. Definitions - In this chapter: (1) “Accounting period” means a calendar year...

§ 28-70-103. Fiduciary duties — General principles - (a) In allocating receipts and disbursements to or between principal...

§ 28-70-104. Trustee's power to adjust - (a) A trustee may adjust between principal and income to...

Subchapter 2 - Decedent's Estate or Terminating Income Interest

§ 28-70-201. Determination and distribution of net income - After a decedent dies, in the case of an estate,...

§ 28-70-202. Distribution to residuary and remainder beneficiaries - (a) Each beneficiary described in § 28-70-201(4) is entitled to...

Subchapter 3 - Apportionment at Beginning and End of Income Interest

§ 28-70-301. When right to income begins and ends - (a) An income beneficiary is entitled to net income from...

§ 28-70-302. Apportionment of receipts and disbursements when decedent dies or income interest begins - (a) A trustee shall allocate an income receipt or disbursement...

§ 28-70-303. Apportionment when income interest ends - (a) In this section, “undistributed income” means net income received...

Subchapter 4 - Allocation of Receipts During Administration of Trust

Part 1 - Receipts From Entities

§ 28-70-401. Character of receipts - (a) In this section, “entity” means a corporation, partnership, limited...

§ 28-70-402. Distribution from trust or estate - A trustee shall allocate to income an amount received as...

§ 28-70-403. Business and other activities conducted by trustee - (a) If a trustee who conducts a business or other...

Part 2 - Receipts Not Normally Apportioned

§ 28-70-404. Principal receipts - A trustee shall allocate to principal: (1) to the extent...

§ 28-70-405. Rental property - To the extent that a trustee accounts for receipts from...

§ 28-70-406. Obligation to pay money - (a) An amount received as interest, whether determined at a...

§ 28-70-407. Insurance policies and similar contracts - (a) Except as otherwise provided in subsection (b), a trustee...

Part 3 - Receipts Normally Apportioned

§ 28-70-408. Insubstantial allocations not required - If a trustee determines that an allocation between principal and...

§ 28-70-409. Deferred compensation, annuities, and similar payments - (a) In this section: (1) “Payment” means a payment that...

§ 28-70-410. Liquidating asset - (a) In this section, “liquidating asset” means an asset whose...

§ 28-70-411. Minerals, water, and other natural resources - (a) To the extent that a trustee accounts for receipts...

§ 28-70-412. Timber - (a) To the extent that a trustee accounts for receipts...

§ 28-70-413. Property not productive of income - (a) If a marital deduction is allowed for all or...

§ 28-70-414. Derivatives and options - (a) In this section, “derivative” means a contract or financial...

§ 28-70-415. Asset-backed securities - (a) In this section, “asset-backed security” means an asset whose...

Subchapter 5 - Allocation of Disbursements During Administration of Trust

§ 28-70-501. Disbursements from income - A trustee shall make the following disbursements from income to...

§ 28-70-502. Disbursements from principal - (a) A trustee shall make the following disbursements from principal:...

§ 28-70-503. Transfers from income to principal for depreciation - (a) In this section, “depreciation” means a reduction in value...

§ 28-70-504. Transfers from income to reimburse principal - (a) If a trustee makes or expects to make a...

§ 28-70-505. Income taxes - (a) A tax required to be paid by a trustee...

§ 28-70-506. Adjustments between principal and income because of taxes - (a) A fiduciary may make adjustments between principal and income...

Subchapter 6 - Miscellaneous Provisions

§ 28-70-601. Uniformity of application and construction - In applying and construing this Uniform Act, consideration must be...

§ 28-70-602. Severability clause - If any provision of this chapter or its application to...

§ 28-70-604. Effective date - This chapter takes effect on January 1, 2000.

§ 28-70-605. Application of chapter to existing trusts and estates - This chapter applies to every trust or decedent's estate existing...

§ 28-70-606. Transitional matters - Section 28-70-409, as amended by this act, applies to a...

Chapter 71 - Investment Of Trust Funds

§ 28-71-101. Fiduciaries' powers cumulative — Uniform Veterans' Guardianship Act not affected - (a) The powers granted by this chapter to the fiduciaries...

§ 28-71-102. Power of court not limited by chapter - Nothing contained in this chapter shall be construed to limit...

§ 28-71-103. Fiduciaries subject to chapter - Fiduciaries acting under authority granted before or after June 9,...

§ 28-71-104. Additional authority to invest funds - (a) Unless prohibited by will, deed, trust, court order, or...

§ 28-71-105. Standard of judgment and care — Prudent investor rule - In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property...

§ 28-71-106. Investments authorized - (a) Within the limitations of the standard set forth in...

§ 28-71-107. Limited investment in private venture capital projects authorized - (a) Unless prohibited by federal law or regulations promulgated thereunder,...

Chapter 72 - Particular Trusts

Subchapter 1 - Missing Persons

§ 28-72-101. Jurisdiction of circuit courts - The circuit courts of this state shall have jurisdiction of...

§ 28-72-102. Appointment of trustee - (a) It shall be the duty of the circuit courts...

§ 28-72-103. Powers and duties of trustee - (a) Any trustee so appointed by the circuit court of...

§ 28-72-104. Bond of trustee - (a) The trustee shall give bond in double the amount...

Subchapter 2 - Public Trusts

§ 28-72-201. Public trusts authorized - Express trusts may be created in real or personal property,...

§ 28-72-202. Acceptance of trust - (a) No public trust shall become effective until the beneficial...

§ 28-72-203. Trustee — Appointment and powers - The instrument creating the trust may provide for the appointment,...

§ 28-72-204. Lease of property to trustee - The officers or any other governmental or municipal authorities having...

§ 28-72-205. Amendment or termination of trust instrument - The instrument creating any public trust may be amended, or...

§ 28-72-206. Liability of trustee and the trust estate - No trustee of such a trust, or any beneficiary thereof,...

§ 28-72-207. Trust estate exempt from taxation - For all purposes of taxation under the authority of the...

Subchapter 3 - Charitable Trusts

§ 28-72-301. Definition - As used in this subchapter, unless the context otherwise requires,...

§ 28-72-302. Amendment of trust instrument by operation of law — Exclusions - (a) Notwithstanding any provision in the laws of this state...

Subchapter 4 - Arkansas Custodial Trust Act

§ 28-72-401. Definitions - As used in this subchapter: (1) “Adult” means an individual...

§ 28-72-402. Custodial trust — General - (a) A person may create a custodial trust of property...

§ 28-72-403. Custodial trustee for future payment or transfer - (a) A person having the right to designate the recipient...

§ 28-72-404. Form and effect of receipt and acceptance by custodial trustee — Jurisdiction - (a) Obligations of a custodial trustee, including the obligation to...

§ 28-72-405. Transfer to custodial trustee by fiduciary or obligor — Facility of payment - (a) Unless otherwise directed by an instrument designating a custodial...

§ 28-72-406. Multiple beneficiaries — Separate custodial trusts — Survivorship - (a) Beneficial interests in a custodial trust created for multiple...

§ 28-72-407. General duties of custodial trustee - (a) If appropriate, a custodial trustee shall register or record...

§ 28-72-408. General powers of custodial trustee - (a) A custodial trustee, acting in fiduciary capacity, has all...

§ 28-72-409. Use of custodial trust property - (a) A custodial trustee shall pay to the beneficiary or...

§ 28-72-410. Determination of incapacity — Effect - (a) The custodial trustee shall administer the custodial trust as...

§ 28-72-411. Exemption of third person from liability - A third person in good faith and without a court...

§ 28-72-412. Liability to third person - (a) A claim based on a contract entered into by...

§ 28-72-413. Declination, resignation, incapacity, death, or removal of custodial trustee — Designation of successor custodial trustee - (a) Before accepting the custodial trust property, a person designated...

§ 28-72-414. Expenses, compensation, and bond of custodial trustee - Except as otherwise provided in the instrument creating the custodial...

§ 28-72-415. Reporting and accounting by custodial trustee — Determination of liability of custodial trustee - (a) Upon the acceptance of custodial trust property, the custodial...

§ 28-72-416. Limitations of action against custodial trustee - (a) Except as provided in subsection (c), unless previously barred...

§ 28-72-417. Distribution on termination - (a) Upon termination of a custodial trust, the custodial trustee...

§ 28-72-418. Methods and forms for creating custodial trusts - (a) If a transaction, including a declaration with respect to...

§ 28-72-419. Applicable law - (a) This subchapter applies to a transfer or declaration creating...

§ 28-72-420. Uniformity of application and construction - This subchapter shall be applied and construed to effectuate its...

§ 28-72-421. Title - This subchapter may be cited as the “Arkansas Custodial Trust...

§ 28-72-422. Severability - If any provision of this act or the application thereof...

Subchapter 5 - Long-Term Intergenerational Security Act of 1995

§ 28-72-501. Short title - This subchapter shall be known as the “Long-Term Intergenerational Security...

§ 28-72-502. Legislative intent - (a) It is found and declared by the General Assembly...

§ 28-72-503. Definition - For purposes of this subchapter, “long-term intergenerational security trust” means...

§ 28-72-504. Long-term intergenerational security trust agreement - (a) The long-term intergenerational security trust agreement must: (1) Name...

§ 28-72-505. Tax and penalty on earnings - (a) (1) All distributions of funds from the long-term intergenerational...

§ 28-72-506. When beneficiary may determine investment - Upon reaching eighteen (18) years of age, the beneficiary of...

§ 28-72-507. Distribution on death - Upon the death of the beneficiary, all funds remaining in...

Subchapter 6 - Qualified Spousal Trust

§ 28-72-601. Definitions - As used in this subchapter: (1) “Property” means an interest...

§ 28-72-602. Settlement of trust - (a) A qualified spousal trust may include a trust term...

§ 28-72-603. Death of settlors - (a) After the death of both settlors, all property held...

§ 28-72-604. Dissolution of marriage - For purposes of the dissolution of the marriage of the...

§ 28-72-605. Applicability of other laws - (a) The provisions of this subchapter are subject to the...

Chapter 73 - Arkansas Trust Code

Subchapter 1 - General Provisions and Definitions

§ 28-73-101. Short title - This chapter may be cited as the Arkansas Trust Code.

§ 28-73-102. Scope - (a) This chapter applies to express trusts, charitable or noncharitable,...

§ 28-73-103. Definitions. [Effective until January 1, 2020.] - In this chapter: (1) “Action”, with respect to an act...

§ 28-73-103. Definitions. [Effective January 1, 2020.] - In this chapter: (1) “Action”, with respect to an act...

§ 28-73-104. Knowledge - (a) Subject to subsection (b), a person has knowledge of...

§ 28-73-105. Default and mandatory rules - (a) Except as otherwise provided in the terms of the...

§ 28-73-106. Common law of trusts — Principles of equity - The common law of trusts and principles of equity supplement...

§ 28-73-107. Governing law - The meaning and effect of the terms of a trust...

§ 28-73-108. Principal place of administration - (a) Without precluding other means for establishing a sufficient connection...

§ 28-73-109. Methods and waiver of notice - (a) Notice to a person under this chapter or the...

§ 28-73-110. Others treated as qualified beneficiaries - (a) Whenever notice to qualified beneficiaries of a trust is...

§ 28-73-111. Nonjudicial settlement agreements - (a) For purposes of this section, “interested persons” means persons...

§ 28-73-112. Rules of construction - The rules of construction that apply in this state to...

Subchapter 2 - Judicial Proceedings

§ 28-73-201. Role of court in administration of trust - (a) A court may intervene in the administration of a...

§ 28-73-202. Jurisdiction over trustee and beneficiary - (a) By accepting the trusteeship of a trust having its...

§ 28-73-203. Subject-matter jurisdiction - The circuit court has exclusive jurisdiction of proceedings in this...

Subchapter 3 - Representation

§ 28-73-301. Representation — Basic effect - (a) Notice to a person who may represent and bind...

§ 28-73-302. Representation by holder of general testamentary power of appointment - To the extent there is no conflict of interest between...

§ 28-73-303. Representation by fiduciaries and parents - To the extent there is no conflict of interest between...

§ 28-73-304. Representation by person having substantially identical interest - Unless otherwise represented, a minor, incapacitated, or unborn individual, or...

§ 28-73-305. Appointment of representative - (a) If a court determines that an interest is not...

Subchapter 4 - Creation, Validity, Modification, and Termination of Trust

§ 28-73-401. Methods of creating trust - A trust may be created by: (1) transfer of property...

§ 28-73-402. Requirements for creation - (a) A trust is created only if: (1) the settlor...

§ 28-73-403. Trusts created in other jurisdictions - A trust not created by will is validly created if...

§ 28-73-404. Trust purposes - A trust may be created only to the extent its...

§ 28-73-405. Charitable purposes — Enforcement - (a) A charitable trust may be created for the relief...

§ 28-73-406. Creation of trust induced by fraud, duress, or undue influence - A trust is void to the extent its creation was...

§ 28-73-407. Evidence of oral trust - Except as required by a statute other than this chapter,...

§ 28-73-408. Trust for care of animal - (a) A trust may be created to provide for the...

§ 28-73-409. Noncharitable trust without ascertainable beneficiary - Except as otherwise provided in § 28-73-408 or by another...

§ 28-73-410. Modification or termination of trust — Proceedings for approval or disapproval - (a) In addition to the methods of termination prescribed by...

§ 28-73-411. Modification or termination of noncharitable irrevocable trust by consent - (a) (1) A noncharitable irrevocable trust may be modified or...

§ 28-73-412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively - (a) In addition to the procedure available under § 28-69-401...

§ 28-73-413. Cy pres - (a) Except as otherwise provided in subsection (b), if a...

§ 28-73-414. Modification or termination of uneconomic trust - (a) After notice to the qualified beneficiaries, the trustee of...

§ 28-73-415. Reformation to correct mistakes - A court may reform the terms of a trust, even...

§ 28-73-416. Modification to achieve settlor's tax objectives - To achieve the settlor's tax objectives, a court may modify...

§ 28-73-417. Combination and division of trusts - (a) (1) After notice to the qualified beneficiaries, a trustee...

Subchapter 5 - Creditor's Claims — Spendthrift and Discretionary Trusts

§ 28-73-501. Rights of beneficiary's creditor or assignee - To the extent a beneficiary's interest is not protected by...

§ 28-73-502. Spendthrift provision - (a) A spendthrift provision is valid only if it restrains...

§ 28-73-504. Discretionary trusts — Effect of standard - (a) Whether or not a trust contains a spendthrift provision,...

§ 28-73-505. Creditor's claim against settlor - (a) Whether or not the terms of a trust contain...

§ 28-73-506. Overdue distribution - Whether or not a trust contains a spendthrift provision, a...

§ 28-73-507. Personal obligations of trustee - Trust property is not subject to personal obligations of the...

Subchapter 6 - Revocable Trusts

§ 28-73-601. Capacity of settlor of revocable trust - The capacity required to create, amend, revoke, or add property...

§ 28-73-602. Revocation or amendment of revocable trust - (a) Unless the terms of a trust expressly provide that...

§ 28-73-603. Settlor's powers — Powers of withdrawal. [Effective until January 1, 2020.] - (a) While a trust is revocable and the settlor has...

§ 28-73-603. Settlor's powers — Powers of withdrawal. [Effective January 1, 2020.] - (a) To the extent a trust is revocable by a...

§ 28-73-604. Limitation on action contesting validity of revocable trust — Distribution of trust property - (a) A person may commence a judicial proceeding to contest...

Subchapter 7 - Office of Trustee

§ 28-73-701. Accepting or declining trusteeship - (a) Except as otherwise provided in subsection (c), a person...

§ 28-73-702. Trustee's bond - (a) A trustee shall give bond to secure performance of...

§ 28-73-703. Cotrustees - (a) Cotrustees who are unable to reach a unanimous decision...

§ 28-73-704. Vacancy in trusteeship — Appointment of successor - (a) A vacancy in a trusteeship occurs if: (1) a...

§ 28-73-705. Resignation of trustee - (a) A trustee may resign: (1) upon at least thirty...

§ 28-73-706. Removal of trustee - (a) The settlor, a cotrustee, or a beneficiary may request...

§ 28-73-707. Delivery of property by former trustee - (a) Unless a cotrustee remains in office or a court...

§ 28-73-708. Compensation of trustee - (a) If the terms of a trust do not specify...

§ 28-73-709. Reimbursement of expenses - (a) A trustee is entitled to be reimbursed out of...

Subchapter 8 - Duties and Powers of Trustee

§ 28-73-801. Duty to administer trust - Upon acceptance of a trusteeship, the trustee shall administer the...

§ 28-73-802. Duty of loyalty - (a) A trustee shall administer the trust solely in the...

§ 28-73-803. Impartiality - If a trust has two (2) or more beneficiaries, the...

§ 28-73-804. Prudent administration - A trustee shall administer the trust as a prudent person...

§ 28-73-805. Costs of administration - In administering a trust, the trustee may incur only costs...

§ 28-73-806. Trustee's skills - A trustee who has special skills or expertise, or is...

§ 28-73-807. Delegation by trustee - (a) A trustee may delegate duties and powers that a...

§ 28-73-808. Powers to direct. [Repealed effective January 1, 2020.] - Publisher's Notes. This section is repealed by Acts 2019, No....

§ 28-73-809. Control and protection of trust property - A trustee shall take reasonable steps to take control of...

§ 28-73-810. Recordkeeping and identification of trust property - (a) A trustee shall keep adequate records of the administration...

§ 28-73-811. Enforcement and defense of claims - A trustee shall take reasonable steps to enforce claims of...

§ 28-73-812. Collecting trust property - A trustee shall take reasonable steps to compel a former...

§ 28-73-813. Duty to inform and report - (a) A trustee shall keep the qualified beneficiaries of the...

§ 28-73-814. Discretionary powers — Tax savings - (a) Notwithstanding the breadth of discretion granted to a trustee...

§ 28-73-815. General powers of trustee - (a) A trustee, without authorization by a court, may exercise:...

§ 28-73-816. Specific powers of trustee - Without limiting the authority conferred by § 28-73-815, a trustee...

§ 28-73-817. Distribution upon termination - (a) Upon termination or partial termination of a trust, the...

Subchapter 9 - Uniform Prudent Investor Act

§ 28-73-901. Prudent investor rule - (a) Except as otherwise provided in subsection (b), a trustee...

§ 28-73-902. Standard of care — Portfolio strategy — Risk and return objectives - (a) A trustee shall invest and manage trust assets as...

§ 28-73-903. Diversification - A trustee shall diversify the investments of the trust unless...

§ 28-73-904. Duties at inception of trusteeship - Within a reasonable time after accepting a trusteeship or receiving...

§ 28-73-905. Reviewing compliance - Compliance with the prudent investor rule is determined in light...

§ 28-73-906. Language invoking standard of subchapter - The following terms or comparable language in the provisions of...

§ 28-73-907. Application to existing trusts - This subchapter applies to trusts existing on and created after...

§ 28-73-908. Uniformity of application and construction - This subchapter shall be applied and construed to effectuate its...

Subchapter 10 - Liability of Trustees and Rights of Persons Dealing With Trustees

§ 28-73-1001. Remedies for breach of trust - (a) A violation by a trustee of a duty the...

§ 28-73-1002. Damages for breach of trust - (a) A trustee who commits a breach of trust is...

§ 28-73-1003. Damages in absence of breach - (a) A trustee is accountable to an affected beneficiary for...

§ 28-73-1004. Attorney's fees and costs - In a judicial proceeding involving the administration of a trust,...

§ 28-73-1005. Limitation of action against trustee - (a) A beneficiary may not commence a proceeding against a...

§ 28-73-1006. Reliance on trust instrument - A trustee who acts in reasonable reliance on the terms...

§ 28-73-1007. Event affecting administration or distribution - If the happening of an event, including marriage, divorce, performance...

§ 28-73-1008. Exculpation of trustee - (a) A term of a trust relieving a trustee of...

§ 28-73-1009. Beneficiary's consent, release, or ratification - A trustee is not liable to a beneficiary for breach...

§ 28-73-1010. Limitation on personal liability of trustee - (a) Except as otherwise provided in the contract, a trustee...

§ 28-73-1011. Interest as general partner - (a) Except as otherwise provided in subsection (c) or unless...

§ 28-73-1012. Protection of person dealing with trustee - (a) A person other than a beneficiary who in good...

§ 28-73-1013. Certification of trust - (a) Instead of furnishing a copy of the trust instrument...

Subchapter 11 - Miscellaneous Provisions

§ 28-73-1101. Uniformity of application and construction - In applying and construing this chapter consideration must be given...

§ 28-73-1102. Electronic records and signatures - The provisions of this chapter governing the legal effect, validity,...

§ 28-73-1103. Severability clause - If any provision of this chapter or its application to...

§ 28-73-1104. Effective date - This chapter takes effect on September 1, 2005.

§ 28-73-1106. Application to existing relationships - (a) Except as otherwise provided in this chapter, on September...

Chapter 74 - Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act

Subchapter 1 - General Provisions

§ 28-74-101. Short title - This chapter may be cited as the Uniform Adult Guardianship...

§ 28-74-102. Definitions - In this chapter: (1) “Adult” means an individual who has...

§ 28-74-103. International application of chapter - A court of this state may treat a foreign country...

§ 28-74-104. Communication between courts - (a) A court of this state may communicate with a...

§ 28-74-105. Cooperation between courts - (a) In a guardianship or protective proceeding in this state,...

§ 28-74-106. Taking testimony in another state - (a) In a guardianship or protective proceeding, in addition to...

Subchapter 2 - Jurisdiction

§ 28-74-201. Definitions — Significant connection factors - (a) In this subchapter: (1) “Emergency” means a circumstance that...

§ 28-74-202. Exclusive basis - This subchapter provides the exclusive jurisdictional basis for a court...

§ 28-74-203. Jurisdiction - A court of this state has jurisdiction to appoint a...

§ 28-74-204. Special jurisdiction - (a) A court of this state lacking jurisdiction under §...

§ 28-74-205. Exclusive and continuing jurisdiction - Except as otherwise provided in § 28-74-204, a court that...

§ 28-74-206. Appropriate forum - (a) A court of this state having jurisdiction under §...

§ 28-74-207. Jurisdiction declined by reason of conduct - (a) If at any time a court of this state...

§ 28-74-208. Notice of proceeding - If a petition for the appointment of a guardian or...

§ 28-74-209. Proceedings in more than one state - Except for a petition for the appointment of a guardian...

Subchapter 3 - Transfer of Guardianship or Conservatorship

§ 28-74-301. Transfer of guardianship or conservatorship to another state - (a) A guardian or conservator appointed in this state may...

§ 28-74-302. Accepting guardianship or conservatorship transferred from another state - (a) To confirm transfer of a guardianship or conservatorship transferred...

Subchapter 4 - Registration and Recognition of Orders from Other States

§ 28-74-401. Registration of guardianship orders - If a guardian has been appointed in another state and...

§ 28-74-402. Registration of protective orders - If a conservator has been appointed in another state and...

§ 28-74-403. Effect of registration - (a) Upon registration of a guardianship or protective order from...

Subchapter 5 - Miscellaneous Provisions

§ 28-74-501. Uniformity of application and construction - In applying and construing this uniform act, consideration must be...

§ 28-74-502. Relation to Electronic Signatures in Global and National Commerce Act - This chapter modifies, limits, and supersedes the federal Electronic Signatures...

§ 28-74-504. Transitional provision - (a) This act applies to guardianship and protective proceedings begun...

§ 28-74-505. Effective date - This act takes effect on January 1, 2012.

Chapter 75 - Revised Uniform Fiduciary Access to Digital Assets Act

§ 28-75-101. Short title - This chapter may be cited as the “Revised Uniform Fiduciary...

§ 28-75-102. Definitions - As used in this chapter: (1) “Account” means an arrangement...

§ 28-75-103. Applicability - (a) This chapter applies to: (1) a fiduciary acting under...

§ 28-75-104. User direction for disclosure of digital assets - (a) A user may use an online tool to direct...

§ 28-75-105. Terms-of-service agreement - (a) This chapter does not change or impair a right...

§ 28-75-106. Procedure for disclosing digital assets - (a) When disclosing digital assets of a user under this...

§ 28-75-107. Disclosure of content of electronic communications of deceased user - If a deceased user consented or a court directs disclosure...

§ 28-75-108. Disclosure of other digital assets of deceased user - Unless the user prohibited disclosure of digital assets or the...

§ 28-75-109. Disclosure of content of electronic communications of principal - To the extent a power of attorney expressly grants an...

§ 28-75-110. Disclosure of other digital assets of principal - Unless otherwise ordered by the court, directed by the principal,...

§ 28-75-111. Disclosure of digital assets held in trust when trustee is original user - Unless otherwise ordered by the court or provided in a...

§ 28-75-112. Disclosure of contents of electronic communications held in trust when trustee not original user - Unless otherwise ordered by the court, directed by the user,...

§ 28-75-113. Disclosure of other digital assets held in trust when trustee not original user - Unless otherwise ordered by the court, directed by the user,...

§ 28-75-114. Disclosure of digital assets to guardian of estate - (a) After an opportunity for a hearing under state guardianship...

§ 28-75-115. Fiduciary duty and authority - (a) The legal duties imposed on a fiduciary charged with...

§ 28-75-116. Custodian compliance and immunity - (a) Not later than 30 days after receipt of the...

§ 28-75-117. Uniformity of application and construction - In applying and construing this uniform act, consideration must be...

§ 28-75-118. Relation to Electronic Signatures and Global National Commerce Act - This chapter modifies, limits, or supersedes the Electronic Signatures in...

Chapter 76 - Uniform Directed Trust Act [Effective January 1, 2020]

§ 28-76-101. Title. [Effective January 1, 2020.] - This chapter may be cited as the “Uniform Directed Trust...

§ 28-76-102. Definitions. [Effective January 1, 2020.] - As used in this chapter: (1) “Breach of trust” includes...

§ 28-76-103. Application — Principal place of administration. [Effective January 1, 2020.] - (a) This chapter applies to a trust, whenever created, that...

§ 28-76-104. Common law and principles of equity. [Effective January 1, 2020.] - The common law and principles of equity supplement this chapter,...

§ 28-76-105. Exclusions. [Effective January 1, 2020.] - (a) In this section, “power of appointment” means a power...

§ 28-76-106. Powers of trust director. [Effective January 1, 2020.] - (a) Subject to § 28-76-107, the terms of a trust...

§ 28-76-107. Limitations on trust director. [Effective January 1, 2020.] - A trust director is subject to the same rules as...

§ 28-76-108. Duty and liability of trust director. [Effective January 1, 2020.] - (a) Subject to subsection (b), with respect to a power...

§ 28-76-109. Duty and liability of directed trustee. [Effective January 1, 2020.] - (a) A directed trustee shall take reasonable action to comply...

§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.] - (a) Subject to § 28-76-111, a trustee shall provide information...

§ 28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.] - (a) Unless the terms of a trust provide otherwise: (1)...

§ 28-76-112. Application to trustee. [Effective January 1, 2020.] - The terms of a trust may relieve a cotrustee from...

§ 28-76-113. Limitation of action against trust director. [Effective January 1, 2020.] - (a) An action against a trust director for breach of...

§ 28-76-114. Defenses in action against trust director. [Effective January 1, 2020.] - In an action against a trust director for breach of...

§ 28-76-115. Jurisdiction over trust director. [Effective January 1, 2020.] - (a) By accepting appointment as a trust director of a...

§ 28-76-116. Office of trust director. [Effective January 1, 2020.] - Unless the terms of a trust provide otherwise, the rules...

§ 28-76-117. Uniformity of application and construction. [Effective January 1, 2020.] - In applying and construing this act, consideration must be given...

§ 28-76-118. Relation to the Electronic Signatures and Global National Commerce Act. [Effective January 1, 2020.] - This chapter modifies, limits, or supersedes the Electronic Signatures in...

<< Previous

Next >>

Arkansas Code Title 28 - Wills, Estates, and Fiduciary Relationships Subtitle 5 - Fiduciary Relationships

Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships