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Ark. Code Ann. § 28-76-110

Duty to provide information to trust director or trustee. [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 § 28-76-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to: the powers or duties of the trustee; and

(2) the powers or duties of the director.

(3) Subject to § 28-76-111, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to: the powers or duties of the director; and

(4) the powers or duties of the trustee or other director.

(5) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance.

(6) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance.

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.