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28-76-112. Application to trustee. [Effective January 1, 2020.]
Arkansas Code — all titles (historical 2020) · legal_authorities
28-76-112. Application to trustee. [Effective January 1, 2020.]
The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee's exercise or nonexercise of a power of the other cotrustee to the same extent that in a directed trust a directed trustee is relieved from duty and liability with respect to a trust director's power of direction under §§ 28-76-109 — 28-76-111.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-76-112
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:28-76-112
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ece88174d0e5db6b5ee321870117a9e7e8f6c9cf71468a1495ced79884b3eb10
Source location: content.xml paragraph 14905
Stored source content
28-76-112. Application to trustee. [Effective January 1, 2020.]
The terms of a trust may relieve a cotrustee from duty and liability with respect to another cotrustee's exercise or nonexercise of a power of the other cotrustee to the same extent that in a directed trust a directed trustee is relieved from duty and liability with respect to a trust director's power of direction under §§ 28-76-109 — 28-76-111.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-76-109. Duty and liability of directed trustee. [Effective January 1, 2020.]
(a) A directed trustee shall take reasonable action to comply with a trust director's direction given to the directed trustee by a trust director acting within the scope of the powers expressly granted to the trust director in the trust instrument, and except as otherwise provided in the trust instrument, the directed trustee is not liable for:
(1) any loss that results directly or indirectly from any act taken or omitted as a result of the reasonable action of the directed trustee to comply with the direction of the trust director or the failure of the trust director to provide consent; and
(2) whenever a directed trust reserves to a trust director the authority to direct the making or retention of any investment, to the exclusion of the directed trustee, the directed trustee shall not be liable for any loss resulting from the making or retention of any investment under such direction.
(b) Absent contrary provisions in the governing instrument, the actions of a directed trustee taken under subsection (a) of this section to comply with a direction of a trust director are administrative actions taken by the directed trustee solely to allow the directed trustee to perform the duties assigned to the directed trustee under the governing instrument and the administrative actions shall not constitute an undertaking by the directed trustee to participate in or otherwise take any fiduciary responsibility for the direction of a trust director.
(c) In an action against a directed trustee under this section, the burden to prove the matter by clear and convincing evidence is on the person seeking to hold the directed trustee liable.
(d) A directed trustee that has reasonable doubt about its
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-76-109
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 28-76-109. This identifies an authority to review, not proof of applicability.
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.