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Ark. Code Ann. § 28-73-110

Others treated as qualified beneficiaries

Known as the Arkansas Trust Code

The act spans §§ 28–28 (103 sections).

Applied in 1 court decision — leading case 2015 Ark. App. 417 - Covenant Presbytery v. First Baptist Church (2015)

Most recently applied in 2015 Ark. App. 417 - Covenant Presbytery v. First Baptist Church (June 2015)

Acts 2005, No. 1031, § 1.

(1) Whenever notice to qualified beneficiaries of a trust is required under this chapter, the trustee must also give notice to any other beneficiary who has sent the trustee a request for notice.

(2) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined: is a distributee or permissible distributee of trust income or principal;

(3) would be a distributee or permissible distributee of trust income or principal upon termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or

(4) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

(5) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in § 28-73-408 or § 28-73-409 has the rights of a qualified beneficiary under this chapter.

(6) The Attorney General has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state.

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.