2010 Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 73 - Arkansas Trust Code
Subchapter 1 - General Provisions and Definitions
§ 28-73-105 - Default and mandatory rules.

28-73-105. Default and mandatory rules.

(a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.

(b) The terms of a trust prevail over any provision of this chapter except:

(1) the requirements for creating a trust;

(2) the duty of a trustee to act in good faith and in accordance with the purposes of the trust;

(3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;

(4) the power of a court to modify or terminate a trust under 28-73-410 -- 28-73-416;

(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in subchapter 5 of this chapter;

(6) the power of a court under 28-73-702 to require, dispense with, or modify or terminate a bond;

(7) the power of a court under 28-73-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;

(8) the rights under 28-73-1010 -- 28-73-1013 of a person other than a trustee or beneficiary;

(9) periods of limitation for commencing a judicial proceeding;

(10) the power of a court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and

(11) the subject-matter jurisdiction of a court for commencing a proceeding as provided in 28-73-203.