Ark. Code § 28-76-110

Current with legislation from 2024 Fiscal and Special Sessions.
Section 28-76-110 - Duty to provide information to trust director or trustee
(a) Subject to § 28-76-111, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the trustee; and
(2) the powers or duties of the director.
(b) Subject to § 28-76-111, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:
(1) the powers or duties of the director; and
(2) the powers or duties of the trustee or other director.
(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance.
(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance.

Ark. Code § 28-76-110

Added by Act 2019, No. 1021,§ 5, eff. 1/1/2020.