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28-73-603. Settlor's powers — Powers of withdrawal. [Effective until January 1, 2020.]
Arkansas Code — all titles (historical 2020) · legal_authorities
28-73-603. Settlor's powers — Powers of withdrawal. [Effective until January 1, 2020.]
(a) While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.
(b) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-73-603
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:28-73-603
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: bb75004058b8f4776d0bfaaca5b345013f46862e8bcdc2dd0b0baf4c17ab9cea
Source location: content.xml paragraph 13479
Stored source content
28-73-603. Settlor's powers — Powers of withdrawal. [Effective until January 1, 2020.]
(a) While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.
(b) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-73-603. Settlor's powers — Powers of withdrawal. [Effective January 1, 2020.]
(a) To the extent a trust is revocable by a settlor, a trustee may follow a direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with a person other than a trustee or person holding an adverse interest, the trustee may follow a direction from the settlor and the other person holding the power to revoke even if the direction is contrary to the terms of the trust.
(b) While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.
(c) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-73-603
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. Same stored citation; legal effect and authority still require review.