Public-domain · open source
OpenJurist

Ark. Code Ann. § 15-32-604

Defenses

Acts 2001, No. 1247, § 4.

It is an affirmative defense to prosecution under this subchapter that:

(1) The trustee paid the beneficiaries all trust money to which the beneficiaries were entitled not later than the fifteenth calendar day after the date written notice was given to the trustee, at the trustee's most recent address known, that a criminal complaint has been filed against the trustee or that a criminal investigation of the trustee is pending;

(2) Two (2) or more persons claim to be beneficiaries of the same trust money and the trustee has deposited the amount of the disputed trust money into the registry of the circuit court of the county in which the standing timber was located by action in interpleader or other appropriate legal proceeding for the benefit of persons the circuit court determines to be entitled to the trust money; or

(3) The trustee paid to the beneficiaries all trust money to which the beneficiaries were entitled not later than thirty (30) days after the date contractually agreed upon in writing.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.