Ark. Code § 28-69-704

Current with legislation from 2024 Fiscal and Special Sessions.
Section 28-69-704 - Exercise of authority by trustee
(a) A trustee may exercise the authority granted in this subchapter without procuring any judicial authorization or approval.
(b) A trustee may exercise the authority granted in this subchapter to divide both funded and unfunded trusts, provided, however, that:
(1) An unfunded testamentary trust may be divided only after the will establishing the trust has been admitted to probate; and
(2) An unfunded nontestamentary trust may be divided only if the governing instrument establishing the trust is not revocable.

Ark. Code § 28-69-704

Acts 1997, No. 585, § 1.