Powers of trust director. [Effective January 1, 2020.]
Known as the Uniform Directed Trust Act
The act spans §§ 28–28 (18 sections).
Acts 2019, No. 1021, § 5.
(1) Subject to § 28-76-107, the terms of a trust may grant a power of direction to a trust director.
(2) Unless the terms of a trust provide otherwise: a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director under subsection (a); and
(3) trust directors with joint powers must act by majority decision.
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.