Title 28 — — Appendix Administrative Order Number 12 — Official Probate Forms
41 chapters · 852 sections in this title.
Ark. Code Ann. § 28-76-101 Title
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This chapter may be cited as the “Uniform Directed Trust Act”.
Ark. Code Ann. § 28-76-102 Definitions
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(1) As used in this chapter:(1) “Breach of trust” includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this chapter, or law of this state other than this chapter pertaining to trusts.(2) “Directed trust” mean…
Ark. Code Ann. § 28-76-103 Application — Principal place of administration
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(a) This chapter applies to a trust, whenever created, that has its principal place of administration in this state, subject to the following rules:(1) If the trust was created before January 1, 2020, this chapter applies only to a decision or action occurring on or after January…
Ark. Code Ann. § 28-76-104 Common law and principles of equity
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The common law and principles of equity supplement this chapter, except to the extent modified by this chapter or law of this state other than this chapter.
Ark. Code Ann. § 28-76-105 Exclusions
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(a) In this section, “power of appointment” means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property. (b) This chapter does not apply to a:(1) power of appointmen…
Ark. Code Ann. § 28-76-106 Powers of trust director
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(a) Subject to § 28-76-107, the terms of a trust may grant a power of direction to a trust director. (b) Unless the terms of a trust provide otherwise:(1) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to…
Ark. Code Ann. § 28-76-107 Limitations on trust director
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(1) A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under § 28-76-106(b)(1) regarding:(1) a payback provision in the terms of a trust necessary to…
Ark. Code Ann. § 28-76-108 Duty and liability of trust director
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(a) Subject to subsection (b), with respect to a power of direction or further power under § 28-76-106(b)(1):(1) a trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:(A) if the power is held individually, as a sole trustee in a li…
Ark. Code Ann. § 28-76-109 Duty and liability of directed trustee
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(a) A directed trustee shall take reasonable action to comply with a trust director's direction given to the directed trustee by a trust director acting within the scope of the powers expressly granted to the trust director in the trust instrument, and except as otherwise provide…
Ark. Code Ann. § 28-76-110 Duty to provide information to trust director or trustee
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(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. (1) the powers or duties of the trustee; and (2) t…
Ark. Code Ann. § 28-76-111 No duty to monitor, inform, or advise
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(a) Unless the terms of a trust provide otherwise:(1) a trustee does not have a duty to:(A) monitor a trust director; or(B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than th…
Ark. Code Ann. § 28-76-112 Application to trustee
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The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee's exercise or nonexercise of a power of the other cotrustee to the same extent that in a directed trust a directed trustee is relieved from duty and liability with respect to a …
Ark. Code Ann. § 28-76-113 Limitation of action against trust director
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(a) An action against a trust director for breach of trust must be commenced within the same limitation period as under § 28-73-1005 for an action for breach of trust against a trustee in a like position and under similar circumstances. (b) A report or accounting has the same eff…
Ark. Code Ann. § 28-76-114 Defenses in action against trust director
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In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee.
Ark. Code Ann. § 28-76-115 Jurisdiction over trust director
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(a) By accepting appointment as a trust director of a trust subject to this chapter, the director submits to personal jurisdiction of the courts of this state regarding any matter related to a power or duty of the director. (b) This section does not preclude other methods of obta…
Ark. Code Ann. § 28-76-116 Office of trust director
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(1) Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:(1) acceptance under § 28-73-701;(2) giving of bond to secure performance under § 28-73-702;(3) reasonable compensation under § 28-73-708…
Ark. Code Ann. § 28-76-117 Uniformity of application and construction
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In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Ark. Code Ann. § 28-76-118 Relation to the Electronic Signatures and Global National Commerce Act
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This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any of t…