Browse Arkansas Code titles and sections
23-51-193. Affiliates.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-193. Affiliates.
(a) Any person acting as a trustee or in any other fiduciary capacity under § 23-51-192 may hire and compensate, as a delegate, an affiliate of the person if:
(1) Authorized by a trust or fiduciary instrument;
(2) Authorized by court order;
(3) Authorized in writing by each affected client; or
(4) The standards of § 23-51-192 are satisfied.
(b) Fees paid to an affiliate shall be competitive with fees charged by nonaffiliates that provide substantially similar services.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-193
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-51-193
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b5ac047763e73480cbb192a58c4f4a0870a6aa543e7b70f5925708cd743c0c27
Source location: content.xml paragraph 26257
Stored source content
23-51-193. Affiliates.
(a) Any person acting as a trustee or in any other fiduciary capacity under § 23-51-192 may hire and compensate, as a delegate, an affiliate of the person if:
(1) Authorized by a trust or fiduciary instrument;
(2) Authorized by court order;
(3) Authorized in writing by each affected client; or
(4) The standards of § 23-51-192 are satisfied.
(b) Fees paid to an affiliate shall be competitive with fees charged by nonaffiliates that provide substantially similar services.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-192. Delegation and fiduciary responsibility.
(a) Any person acting as a trustee or as any other fiduciary under the laws of this state may delegate any investment, management, or administrative function if the person exercises reasonable care, judgment, and caution in:
(1) Selecting the delegate, taking into account the delegate's financial standing and reputation;
(2) Establishing the scope and other terms of any delegation; and
(3) Reviewing periodically the delegate's actions in order to monitor overall performance and compliance with the scope and other terms of the delegation.
(b) Notwithstanding any delegation permitted by subsection (a) of this section, any person acting as a trustee, except as provided in § 28-73-807, or in any other fiduciary capacity under the laws of this state shall retain responsibility for the due performance of any delegated fiduciary function.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-192
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-51-192. This identifies an authority to review, not proof of applicability.