Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this subchapter.
Ark. Code Ann. § 28-73-904
Duties at inception of trusteeship
Known as the Arkansas Trust Code
The act spans §§ 28–28 (103 sections).
Applied in 1 court decision — leading case Wetzel v. Regions Bank (In Re Reagan) (2010)
Most recently applied in Wetzel v. Regions Bank (In Re Reagan) (April 2010)
Acts 2005, No. 1031, § 1.
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.