Ark. Code § 28-73-105 : WILLS, ESTATES, AND FIDUCIARY RELATIONSHIPS — FIDUCIARY RELATIONSHIPS — ARKANSAS TRUST CODE — GENERAL PROVISIONS AND DEFINITIONS —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) subject to §§ 28-76-109, 28-76-111, and 28-76-112 of the Uniform Directed Trust Act, § 28-76-101 et seq., 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 § 28-73-501 et seq.;
(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.

Ark. Code § 28-73-105

Amended by Act 2019, No. 1021,§ 2, eff. 1/1/2020.
Acts 2005, No. 1031, § 1.
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