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§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]

Home » US Law » 2020 Arkansas Code » Title 28 - Wills, Estates, and Fiduciary Relationships » Subtitle 5 - Fiduciary Relationships » Chapter 76 - Uniform Directed Trust Act [Effective January 1, 2020] » § 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]

§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]

§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]

  1. (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. (1) the powers or duties of the trustee; and

    2. (2) the powers or duties of the director.

  2. (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. (1) the powers or duties of the director; and

    2. (2) the powers or duties of the trustee or other director.

  3. (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.

  4. (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.