Arkansas § 28-73-111 Nonjudicial settlement agreements

Arkansas Statutes

§ 28-73-111 — Nonjudicial settlement agreements

Arkansas § 28-73-111

Title28

This text of Arkansas § 28-73-111 (Nonjudicial settlement agreements) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 28-73-111 (2026).

Text

(a)For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.

(b)Except as otherwise provided in subsection (c), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.

(c)A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter or other applicable law.

(d)Matters that may be resolved by a nonjudicial settlement agreement include:

(1)the interpretation or construction of the terms of the trust;

(2)the approval of a trustee's report or acco

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(a) For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (b) Except as otherwise provided in subsection (c), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust. (c) A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter or other applicable law. (d) Matters that may be resolved by a nonjudicial settlement agreement include: (1) the interpretation or construction of the terms of the trust; (2) the approval of a trustee's report or accounting; (3) direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power; (4) the resignation or appointment of a trustee and the determination of a trustee's compensation; (5) transfer of a trust's principal place of administration; and (6) liability of a trustee for an action relating to the trust. (e) Any interested person may request a court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in § 28-73-301 et seq. was adequate, and to determine whether the agreement contains terms and conditions a court could have properly approved.