Arkansas Statutes
§ 28-73-1012 — Protection of person dealing with trustee
Arkansas·Title 28
(a)A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers is protected from liability as if the trustee properly exercised the power.
(b)A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise.
(c)A person who in good faith delivers assets to a trustee need not ensure their proper application.
(d)A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee without knowledge that the trusteeship has terminated is protected from
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Legislative History
Acts 2005, No. 1031, § 1.
Nearby Sections
15
§ 28-1-101
Title§ 28-1-102
Definitions§ 28-1-103
Effect of code§ 28-1-104
Probate proceedings§ 28-1-106
Referees and probate clerks§ 28-1-108
Records§ 28-1-109
Petition - Verification§ 28-1-110
Filing objections to petition§ 28-1-111
Guardians and attorneys ad litem§ 28-1-112
Notice - Service - Proof - Costs§ 28-1-113
Waiver of notice§ 28-1-115
Vacation and modification of orders§ 28-1-116
Appeals§ 28-1-117
Use of certified mail permitted§ 28-1-118
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