Uniform Directed Trust Act
Arkansas · Wills, Estates, and Fiduciary Relationships · §§ 28-76-101 to 28-76-118 · 18 sections
Overview
The Uniform Directed Trust Act governs trusts in which a person other than the trustee — a trust director — holds power over some aspect of the trust, and the trustee is expected to act at that person's direction. It defines the scope of and limits on a trust director's powers and allocates fiduciary duty and liability between the director and the directed trustee, including their obligations to share information with one another and the absence of any general duty to monitor, inform, or advise. It also covers how those rules apply where cotrustees are involved, the time limits and defenses available in actions brought against a trust director, personal jurisdiction over directors, and the mechanics of the office of trust director itself.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- Ark. Code Ann. § 28-76-101Title. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-102Definitions. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-103Application — Principal place of administration. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-104Common law and principles of equity. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-105Exclusions. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-106Powers of trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-107Limitations on trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-108Duty and liability of trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-109Duty and liability of directed trustee. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-110Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-111No duty to monitor, inform, or advise. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-112Application to trustee. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-113Limitation of action against trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-114Defenses in action against trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-115Jurisdiction over trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-116Office of trust director. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-117Uniformity of application and construction. [Effective January 1, 2020.]
- Ark. Code Ann. § 28-76-118Relation to the Electronic Signatures and Global National Commerce Act. [Effective January 1, 2020.]
Enacted in other states
California, Connecticut, Florida, Indiana, Montana, New Mexico, Vermont, West Virginia
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