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28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
Arkansas Code — all titles (historical 2020) · legal_authorities
28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
(a) Subject to § 28-76-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) 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:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) 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.
(d) 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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-76-110
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:28-76-110
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0907d9d0c6accfc1252f96a79c2114ab422174d84be4cba7f384cd5eabbfdbdc
Source location: content.xml paragraph 14873
Stored source content
28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
(a) Subject to § 28-76-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) 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:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) 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.
(d) 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.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.]
(a) Unless the terms of a trust provide otherwise:
(1) a trustee does not have a duty to:
(A) monitor a trust director; or
(B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and
(2) by taking an action described in paragraph (1), a trustee does not assume the duty excluded by paragraph (1).
(b) Unless the terms of a trust provide otherwise:
(1) a trust director does not have a duty to:
(A) monitor a trustee or another trust director; or
(B) inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and
(2) by taking an action described in paragraph (1), a trust director does not assume the duty excluded by paragraph (1).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-76-111
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 28-76-111. This identifies an authority to review, not proof of applicability.