28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.]

Arkansas Code — all titles (historical 2020) · legal_authorities

28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.]

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. A text match is a research starting point; applicability is not established.