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2017 Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 72 - Particular Trusts
Subchapter 2 - Public Trusts
§ 28-72-201. Public trusts authorized
Universal Citation: AR Code § 28-72-201 (2017)
Express trusts may be created in real or personal property, or either or both, or any estate in either or both, with the state, or any governmental or municipal subdivision thereof, or any agency or department of either, or more than one (1) of any of the foregoing, as the beneficiary thereof, for the purpose of aiding or furthering or the providing of funds for the aiding or furthering of any one (1) or more proper functions of the beneficiary then authorized or which might lawfully be authorized. However, no funds of any beneficiary derived from other than trust sources shall be charged with or expended in the execution of the trust except by express lawful action of the beneficiary.
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