Arkansas § 28-73-409 Noncharitable trust without ascertainable beneficiary

Arkansas Statutes

§ 28-73-409 — Noncharitable trust without ascertainable beneficiary

Arkansas § 28-73-409

Title28

This text of Arkansas § 28-73-409 (Noncharitable trust without ascertainable beneficiary) 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. § 28-73-409 (2026).

Text

Except as otherwise provided in § 28-73-408 or by another statute, the following rules apply:

(1)a trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than twenty-one (21) years;

(2)a trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by a court; and (3) property of a trust authorized by this section may be applied only to its intended use, except to the extent a court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the

Free access — add to your briefcase to read the full text and ask questions with AI

Except as otherwise provided in § 28-73-408 or by another statute, the following rules apply: (1) a trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than twenty-one (21) years; (2) a trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by a court; and (3) property of a trust authorized by this section may be applied only to its intended use, except to the extent a court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest.