Title 28 — — Appendix Administrative Order Number 12 — Official Probate Forms

(a) In this section, a gift “for the benefit of” a person includes a gift to a trust, an account under the Uniform Transfers to Minors Act, and a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code Section 529, 26 U.S.C. Section 529, as it exist…

A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this chapter. ARKANSASSTATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION This power of attorney authorizes another person (you…

The following optional form may be used by an agent to certify facts concerning a power of attorney. AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OFATTORNEY AND AGENT'S AUTHORITY State of County of I, (Name of Agent), certify under penalty of perjury that (Name of Principal)…

In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.

This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., as it existed on January 1, 2011, but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or auth…

(1) Except as otherwise provided in this chapter, on January 1, 2012:(1) this chapter applies to a power of attorney created before, on, or after January 1, 2012;(2) this chapter applies to a judicial proceeding concerning a power of attorney commenced on or after January 1, 2012…

A.C.A. § 28-68-404Current through all legislation of the 2025 Regular Session.History Acts 1999, No. 1423, § 4; 2011, No. 805, § 1. Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

This chapter takes effect January 1, 2012.

It shall be lawful for any party of whom a bond, undertaking, or other obligation is required to agree with his or her surety for the deposit of any or all moneys and assets for which he or she and his or her surety are or may be held responsible with a bank, savings bank, safe-d…

(a) As used in this section:(1) “Trust” means a trust, or similar legal device, established other than by will by an individual or an individual's spouse under which the individual may be a beneficiary of all or part of the payments from the trust, and the distribution of such pa…

For the purposes of this subchapter, unless the context otherwise requires, “fiduciary” includes a trustee under any express trust, executor, administrator, guardian, curator, or agent. For the purposes of § 28-69-204 “fiduciary” also includes a trustee under an implied, resultin…

(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…

(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 fid…

If a fiduciary or the nominee of a fiduciary in whose name are registered, or are to be registered, any shares of stocks, bonds, or other securities of any public or private corporation, company, other association, or of any trust, applies for the registration or transfer of the …

Notwithstanding any other provision of law, any funds, including capital, belonging to or under the control of any bank, trust company, savings bank, or savings institution and any funds belonging to or under the control of any administrators, executors, trustees, fiduciaries, gu…

An Arkansas-chartered bank or savings and loan association that holds as trustee funds awaiting investment or distribution, if not prohibited by the instrument or judgment creating the trust, may deposit the funds in the commercial department of the bank or savings and loan assoc…

Any state bank, national bank, or trust company qualified to act as a fiduciary in this state, is hereby specifically authorized to utilize its respective affiliates to provide services for any trust or estate for which the financial institution or trust company acts as a trustee…

(1) As used in this subchapter:(1) “Environmental law” means any federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment or human health;(2) “Estate” means the estate of the decedent if by reference thereto a provision has been made …

Nothing contained in this subchapter shall be construed to limit the power of a court of competent jurisdiction to prohibit a fiduciary from taking any action or to restrain a fiduciary in the taking of such an action, notwithstanding the authorizations or powers vested in the fi…

(a) By a clearly expressed intention of the testator or settlor so to do contained in a will or in an instrument in writing whereby a trust estate is created inter vivos, the language contained in the introductory paragraph of § 28-69-304 and in any one (1) or more of the subdivi…

(1) Without diminution or restriction of the powers vested in him or her by law, or elsewhere in this instrument, and subject to all other provisions of this instrument, the fiduciary, without the necessity of procuring any judicial authorization therefor, or approval thereof, sh…

(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 personall…

(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…

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 t…

Nothing in this subchapter shall prevent revocation, modification, or termination of a trust pursuant to its terms, or otherwise in accordance with applicable law.

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…

This subchapter may be cited as the “Trustee Division of Trusts Act”.

(1) 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; …

Unless expressly prohibited by the terms of the governing instrument, when property is held or to be held in a trust, the trustee is authorized, but not required, to divide the trust into two (2) or more separate trusts of equal or unequal value if the trustee determines that div…

(a) A trustee may exercise the authority granted in this subchapter without procuring any judicial authorization or approval. (b) A trustee may exercise the authority granted in this subchapter to divide both funded and unfunded trusts, provided, however, that:(1) An unfunded tes…

If a trustee divides a trust into separate trusts under this subchapter, the terms of the separate trusts need not be identical but must provide for the same succession of interests and beneficiaries as are provided in the original trust. Differing tax elections may be made for e…

This subchapter applies to all trustees regardless of whether the trust was created before, on, or after the date of enactment.

This subchapter may be cited as the Uniform Prudent Management of Institutional Funds Act (2006).

(1) In this subchapter:(1) “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community.(2) “Endowment fun…

(a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. (b) In addition to complying with the duty o…

(a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is…

(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…

(a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpo…

Compliance with this subchapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.

This subchapter applies to institutional funds existing on or established after the effective date of this subchapter. As applied to institutional funds existing on the effective date of this subchapter this subchapter governs only decisions made or actions taken on or after that…

This subchapter modifies, limits, and 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 of that act, 15 U.S.C. Section 7001(a), or authorize electronic delivery of any of …

In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

(a) The powers granted by this chapter to the fiduciaries named in this chapter shall be in addition to the powers existing by virtue of other acts heretofore enacted authorizing investments by fiduciaries. (b) This chapter shall not apply in any situation governed by the Uniform…

Nothing contained in this chapter shall be construed to limit the power of a court of competent jurisdiction to permit a fiduciary to take any action, or to restrain a fiduciary from taking any action, notwithstanding the permissions or restrictions contained in any written instr…

Fiduciaries acting under authority granted before or after June 9, 1955, shall be subject to the provisions of this chapter.

(a) Unless prohibited by will, deed, trust, court order, or other instrument establishing the fiduciary relationship or unless another mode of investment is prescribed by any such instrument, trustees, guardians, and personal representatives, in addition to methods of investment …

In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property held in a fiduciary capacity, other than trusts subject to the prudent investor rule as set forth in the Arkansas Trust Code, § 28-73-101 et seq., the fiduciary shall exercise the judgment…

(a) Within the limitations of the standard set forth in § 28-71-105, a fiduciary is authorized to acquire and retain every kind of real, personal, or mixed property and every kind of investment, specifically including, but not by way of limitation, bonds, debentures, and other co…

(a) Unless prohibited by federal law or regulations promulgated thereunder, but notwithstanding any law or rule of this state to the contrary, fiduciaries and financial institutions may invest up to no more than two and one-half percent (2½%) of their funds eligible for investmen…

The circuit courts of this state shall have jurisdiction of the estates of persons imprisoned in a foreign country and of the estates of missing persons.