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2019 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions and Securities
Chapter 51 - Arkansas Trust Institutions Act
§ 23-51-193. Affiliates
Universal Citation: AR Code § 23-51-193 (2019)
(a) Any person acting as a trustee or in any other fiduciary capacity under § 23-51-192 may hire and compensate, as a delegate, an affiliate of the person if:
(1) Authorized by a trust or fiduciary instrument;
(2) Authorized by court order;
(3) Authorized in writing by each affected client; or
(4) The standards of § 23-51-192 are satisfied.
(b) Fees paid to an affiliate shall be competitive with fees charged by nonaffiliates that provide substantially similar services.
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