§ 28-69-805. Delegation of management and investment functions
(a) Subject to any specific limitation set forth in a gift instrument or in law other than this subchapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with […]
§ 28-69-305. Compliance with environmental law
(a) The fiduciary shall be entitled to charge the cost of any inspection, review, abatement, response, cleanup, or remedial action authorized herein in compliance with environmental law against the income or principal of the trust or estate. (b) A fiduciary shall not be personally liable to any beneficiary or other party for any decrease in […]
§ 28-69-401. Consent
(a) By written consent of the settlor and all named beneficiaries of a trust or any part thereof, regardless of any spendthrift or similar protective provisions, the trust or part thereof may be revoked, modified, or terminated upon a finding by the court having jurisdiction over the trust, or otherwise being of competent jurisdiction, that […]
§ 28-69-402. Liability of trustee
A trustee of a trust that is sought to be terminated, modified, or revoked, in whole or in part, pursuant to the terms of this subchapter, may rely on general family benefit accruing to the living named beneficiaries and their families as a basis for approving, or not objecting to, any such revocation, modification, or […]
§ 28-69-403. Revocation, etc., by other means not precluded
Nothing in this subchapter shall prevent revocation, modification, or termination of a trust pursuant to its terms, or otherwise in accordance with applicable law.
§ 28-69-501. Spendthrift trust
Any retirement plan which meets the requirements of section 401 or section 403 of the Internal Revenue Code of 1986, as amended, which contains a prohibition against alienation and a prohibition against attachment shall be conclusively presumed for the purposes of Arkansas law to be a spendthrift trust.
§ 28-69-701. Short title
This subchapter may be cited as the “Trustee Division of Trusts Act”.
§ 28-69-202. Common trust funds
(a) (1) Any trust department of a state bank, national bank, or trust company qualified to act as fiduciary in this state may establish common trust funds for the purpose of furnishing investments to itself as fiduciary or to itself and others as co-fiduciaries. The bank or trust company, as fiduciary or co-fiduciary, may invest […]
§ 28-69-702. Definitions
As used in this subchapter: (1) “Trust” means any express trust, with additions thereto, wherever and however created, or any separate share of a trust and includes any arrangement other than an estate which, although not a trust, has substantially the same effect as a trust; and (2) “Trustee” means an original, additional, or successor […]
§ 28-69-203. Investments generally — Liability
(a) Any state bank, national bank, or trust company authorized to do business in this state when acting as a fiduciary or as a co-fiduciary with others, with the consent of its co-fiduciary, if any, who are authorized to give such consent, may cause any investment held in any fiduciary capacity to be registered and […]