Ark. Code Ann. § 28-69-304 — AR Code / Title 28 / Chapter 69 / Subchapter 3 / Section 28-69-304
Powers which may be incorporated
Status: in_force

Without diminution or restriction of the powers vested in him or her by law, or elsewhere in this instrument, and subject to all other provisions of this instrument, the fiduciary, without the necessity of procuring any judicial authorization therefor, or approval thereof, shall be vested with, and in the application of his or her best judgment and discretion in behalf of the beneficiaries of this instrument shall be authorized to exercise, the powers hereunder specifically enumerated: (1) In behalf of my estate to join my spouse, if living, or the personal representative of the estate of my spouse, if deceased, in the execution and filing of a joint income tax return to the United States, or to the State of Arkansas, or any other governmental taxing authority or a joint gift tax return, if and when a joint return is authorized by law, if the fiduciary, in the exercise of his or her best judgment, believes the action to be for the best interests of my estate, or will result in a benefit to my spouse or the estate of my spouse exceeding in amount any monetary loss to my estate which may be caused thereby; (2) To continue, to the extent and so long as in the exercise of the fiduciary's best judgment it is advisable and for the best interests of my estate so to do, the operation or participation in the operation of any farming, manufacturing, mercantile, and other business activity or enterprise in which at the time of my death I am engaged, either alone or in unincorporated association with others; (3) On behalf of my estate, to perform any and all valid executory contracts to which, at the time of my death, I am a party, and which at the time of my death have not been fully performed by me, and to discharge all obligations of my estate arising under or by reason of such contracts; (4) Pending the administration of my estate, to permit any beneficiary or beneficiaries of this will to have the use, possession, and enjoyment, without charge made therefor, and without the fiduciary's thereby relinquishing control thereof, of any real property or tangible personal property of my estate which, upon completion of the administration of my estate, will be distributable to the beneficiary or beneficiaries, when, if, and to the extent that the action will not adversely affect the rights and interests of any creditor of my estate, and in the judgment of the fiduciary it is appropriate that the beneficiary or beneficiaries have the use and enjoyment of the property, notwithstanding that it may be subjected to depreciation in value by reason of such use. The exercise of this power will not constitute a distribution of the property with respect to which it is exercised, and, whether or not exercised, neither the power nor the exercise thereof shall be deemed a constructive or actual distribution of the property to which it relates; (5) During the fiduciary's administration of the estate and subject to all the other provisions of this instrument, to receive and receipt for all of the assets of the estate, and to have exclusive possession and control thereof; (6) By public or private sale or sales, and for such consideration, on such terms and subject to such conditions, if any, as in the judgment of the fiduciary are for the best interests of the estate and the beneficiaries thereof, to sell, assign, transfer, convey, or exchange any real or personal property of the estate, or the estate's undivided interest in the property, or any specific part of or interest therein, including, but not limited to, standing timber, rock, gravel, sand, growing crops, oil, gas, and other minerals or mineral rights or interests, and to grant easements on real property of the estate, and to participate in the partition of real or personal property in which the estate has an undivided interest, and to accomplish any such transactions by contracts, indorsements, assignments, bills of sale, deeds, or other appropriate written instruments executed and delivered by the fiduciary in behalf of the estate, and to acknowledge the execution of the instruments in the manner provided by law for the acknowledgment of the execution of deeds when the acknowledgments are required or appropriate; (7) For such consideration, on such terms, and subject to such conditions, if any, as in the judgment of the fiduciary are for the best interests of the estate and the beneficiaries thereof, to lease, for terms which may exceed the duration of the estate, any real or tangible personal property of the estate, or any specific parts thereof or interests therein, including, but not limited to, oil, gas, and other mineral leases, and to accomplish the leases by appropriate written instruments executed and delivered by the fiduciary in behalf of the estate, and to acknowledge the execution of the instruments in the manner provided by law for the acknowledgment of the execution of deeds when the acknowledgments are required or appropriate; (8) In behalf of the estate, to: (A) Borrow money; (B) Evidence the loans by promissory notes or other evidences of indebtedness signed by the fiduciary in his or her fiduciary capacity, to be binding upon the assets of the estate but not upon the fiduciary in his or her individual capacity; (C) Secure loans by assigning or pledging personal property of the estate, or by mortgages or deeds of trust or other appropriate instruments imposing liens upon real property or tangible personal property of the estate; and (D) Repay the loans, including principal and interest due thereon; (9) In behalf of the estate, to borrow money from the fiduciary in his or her individual capacity and to secure the loans in the same manner as though they were made by a third person; (10) To enter into contracts binding upon the estate, but not upon the fiduciary in his or her individual capacity, which are reasonably incident to the administration of the estate, and which the fiduciary in the exercise of his or her best judgment believes to be for the best interests of the estate; (11) To settle, by compromise or otherwise, claims or demands against the estate, or held in behalf of the estate; (12) To release and satisfy of record, in whole or in part, and to enter of record credits upon, any mortgage or other lien constituting an asset of the estate; (13) To abandon and charge off as worthless, in whole or in part, claims or demands held by or in behalf of the estate which, in the judgment of the fiduciary, are in whole or in part uncollectible; (14) To pay taxes and excises lawfully chargeable against the assets of the estate which are in the possession or under the control of the fiduciary, including, but not limited to, ad valorem taxes upon real and personal property of the estate which became due and payable prior to the property's coming into the hands of the fiduciary, or which become due and payable while the property remains in his or her possession or under his or her control, excluding, however, income taxes payable by distributees, assessed with respect to income which has been distributed by the fiduciary pursuant to the provisions of this instrument; (15) To repair and maintain in good condition real and tangible personal property of the estate so long as the property remains in the possession or under the control of the fiduciary; (16) To invest liquid assets of the estate, and from time to time exchange or liquidate and reinvest the assets, pending distribution thereof, if and when such investments in the judgment of the fiduciary will not impede or delay distribution thereof pursuant to the provisions of this instrument or as otherwise by law required, and in the judgment of the fiduciary are advisable and for the best interests of the estate and the beneficiaries. In making investments the fiduciary shall be guided by the "prudent investor rule" as authorized and defined in § 28-71-105 , and the investments thus authorized shall be understood to include, but not to be limited to, loans secured by mortgages, or liens otherwise imposed, upon real or personal property; (17) Subject to the making and keeping of appropriate records with respect thereto, which will at all times clearly identify the equitable rights and interests of the estate therein, to invest funds of the estate in undivided interests in negotiable or nonnegotiable securities, or other assets, the remaining undivided interests in which are held by the fiduciary in a fiduciary capacity for the use and benefit of other beneficiaries; (18) To retain investments which initially come into the hands of the fiduciary among the assets of the estate, without liability for loss or depreciation or diminution in value resulting from the retention, so long as in the judgment of the fiduciary it is not clearly for the best interests of the estate, and the distributees thereof, that the investments be liquidated, although the investments may not be productive of income or otherwise may not be such as the fiduciary would be authorized to make; (19) At any time and from time to time to keep all or any portion of the estate in liquid form, uninvested, for such time as the fiduciary may deem advisable, without liability for any loss of income occasioned by so doing; (20) To deposit funds of the trust in one (1) or more accounts carried by the fiduciary, in a clearly specified fiduciary capacity, in any one (1) or more banks and trust companies whose deposits are insured under the provisions of the Federal Deposit Insurance Act as now constituted or as the same may be hereafter amended, and if the fiduciary is itself a bank or a trust company, and is otherwise qualified, he or she may serve as the depository; (21) To deposit for safekeeping with any bank or trust company, including the fiduciary himself or herself if he or she is a bank or trust company, any negotiable or nonnegotiable securities or other documents constituting assets or records of the estate; (22) To bring and prosecute or to defend actions at law or in equity for the protection of the assets or interests of the estate or for the protection or enforcement of the provisions of this instrument; (23) To employ attorneys, accountants, or other persons whose services may be necessary or advisable, in the judgment of the fiduciary, to advise or assist him or her in the discharge of his or her duties, or in the conduct of any business constituting an asset of the estate, or in the management, maintenance, improvement, preservation, or protection of any property of the estate, or otherwise in the exercise of any powers vested in the fiduciary; (24) To procure and pay premiums on policies of insurance to protect the estate, or any of the assets thereof, against liability for personal injuries or property damage, or against loss or damage by reason of fire, windstorm, collision, theft, embezzlement, or other hazards against which insurance is normally carried in connection with activities or on properties such as those with respect to which the fiduciary procures insurance; (25) To allocate items of receipts or disbursements to either corpus or income of the estate, as the fiduciary in the exercise of his or her best judgment and discretion deems to be proper, without thereby doing violence to clearly established and generally recognized principles of accounting; (26) On behalf of the estate, to purchase or otherwise lawfully acquire real or personal property, or undivided interests therein, the ownership of which, in the judgment of the fiduciary, will be advantageous to the estate, and the beneficiary or beneficiaries thereof; (27) To construct improvements on real property of the estate, or to remove or otherwise dispose of improvements, when the action is in the judgment of the fiduciary advisable and for the best interests of the estate; (28) To exercise in person or by proxy, with or without a power of substitution vested in the proxy, all voting rights incident to the ownership of corporate stock or other securities constituting assets of the estate, and to exercise all other rights and privileges incident to the ownership of the securities, including, but not limited to, the right to sell, exchange, endorse, or otherwise transfer the securities, to consent to, or to oppose, reorganizations, consolidations, mergers, or other proposed corporate actions by the issuer of the securities, to exercise or decline to exercise options to purchase additional shares or units of the securities or of related securities, and to pay all assessments or other expenses necessary in the judgment of the fiduciary for the protection of the securities or of the value thereof; (29) To employ any bank or trust company to serve as custodian of any securities constituting assets of the estate, and to cause the securities, if they are nonassessable, to be registered in the name of the custodian or of its nominee, without disclosure that they are held in a fiduciary capacity; to authorize the bank or trust company, as agent and on behalf of the fiduciary, to collect, receive, and receipt for income derived from the securities, or the proceeds of sales, assignments, or exchanges thereof made by authority and under the direction of the fiduciary, and to remit to the fiduciary the income or other proceeds derived from the securities; and to pay to the custodian reasonable and customary charges made by it for the performance of the services. However, any such action taken by the fiduciary shall not increase, decrease, or otherwise affect his or her liability, responsibility, or accountability with respect to the securities; (30) To register nonassessable securities constituting assets of the estate in the name of the fiduciary or of his or her nominee, without disclosure that the securities are held in a fiduciary capacity, or to hold the securities unregistered or otherwise in a form that the title thereto will pass by delivery, without, in any case, increasing, decreasing, or otherwise affecting the fiduciary's liability, responsibility, or accountability with respect to the securities; (31) In making distribution of capital assets of the estate to distributees under the provisions of this instrument, except when otherwise required by other provisions of this instrument, to make the distribution in kind or in cash, or partially in kind and partially in cash, as the fiduciary finds to be most practicable and for the best interests of the distributees; to distribute real property to two (2) or more distributees in division, or to partition the real property for the purpose of distribution, as the fiduciary in the exercise of his or her best judgment finds to be most practicable and for the best interests of the distributees; and to determine the value of capital assets for the purpose of making distribution of the assets if and when there is more than one (1) distributee. The determination shall be binding upon the distributees unless clearly capricious, erroneous, and inequitable; (32) To do any and all other things, not in violation of any other terms of this instrument, which, in the judgment of the fiduciary, are necessary or appropriate for the proper management, investment, and distribution of the assets of the estate in accordance with the provisions of this instrument, and in his or her judgment are for the best interests of the estate and its beneficiaries; (33) To inspect property held by the fiduciary, including interests in sole proprietorships, partnerships, or corporations and any assets owned by any such business enterprise, for the purpose of determining compliance with environmental laws affecting such property and to respond to any actual or threatened violation of any environmental law affecting property held by the fiduciary; (34) To take, on behalf of the estate or trust, any action necessary to prevent, abate, or otherwise remedy any actual or threatened violation of any environmental law affecting property held by the fiduciary, either before or after the initiation of an enforcement action by any governmental body; (35) To refuse to accept property in trust if the fiduciary determines that any property to be donated to the trust either is contaminated by any hazardous substance or is being used or has been used for any activity directly or indirectly involving a hazardous substance which could result in liability to the trust or otherwise impair the value of the assets held therein; (36) To settle or compromise at any time any and all claims against the trust or estate which may be asserted by any governmental body or private party involving the alleged violation of any environmental law affecting property held in trust or in an estate; (37) To disclaim any power granted by any document, statute, or rule of law which, in the sole discretion of the fiduciary, may cause the fiduciary to incur personal liability under any environmental law; (38) To decline to serve as a fiduciary if the fiduciary reasonably believes that there is or may be a conflict of interest between its fiduciary capacity and its individual capacity because of potential claims or liabilities which may be asserted against it on behalf of the trust or estate because of the type or condition of assets held therein. Acts 1961, No. 153, § 3; A.S.A. 1947, § 58-116; Acts 1993, No. 421, § 1.

Without diminution or restriction of the powers vested in him or her by law, or elsewhere in this instrument, and subject to all other provisions of this instrument, the fiduciary, without the necessity of procuring any judicial authorization therefor, or approval thereof, shall be vested with, and in the application of his or her best judgment and discretion in behalf of the beneficiaries of this instrument shall be authorized to exercise, the powers hereunder specifically enumerated:

(1) In behalf of my estate to join my spouse, if living, or the personal representative of the estate of my spouse, if deceased, in the execution and filing of a joint income tax return to the United States, or to the State of Arkansas, or any other governmental taxing authority or a joint gift tax return, if and when a joint return is authorized by law, if the fiduciary, in the exercise of his or her best judgment, believes the action to be for the best interests of my estate, or will result in a benefit to my spouse or the estate of my spouse exceeding in amount any monetary loss to my estate which may be caused thereby;

(2) To continue, to the extent and so long as in the exercise of the fiduciary's best judgment it is advisable and for the best interests of my estate so to do, the operation or participation in the operation of any farming, manufacturing, mercantile, and other business activity or enterprise in which at the time of my death I am engaged, either alone or in unincorporated association with others;

(3) On behalf of my estate, to perform any and all valid executory contracts to which, at the time of my death, I am a party, and which at the time of my death have not been fully performed by me, and to discharge all obligations of my estate arising under or by reason of such contracts;

(4) Pending the administration of my estate, to permit any beneficiary or beneficiaries of this will to have the use, possession, and enjoyment, without charge made therefor, and without the fiduciary's thereby relinquishing control thereof, of any real property or tangible personal property of my estate which, upon completion of the administration of my estate, will be distributable to the beneficiary or beneficiaries, when, if, and to the extent that the action will not adversely affect the rights and interests of any creditor of my estate, and in the judgment of the fiduciary it is appropriate that the beneficiary or beneficiaries have the use and enjoyment of the property, notwithstanding that it may be subjected to depreciation in value by reason of such use. The exercise of this power will not constitute a distribution of the property with respect to which it is exercised, and, whether or not exercised, neither the power nor the exercise thereof shall be deemed a constructive or actual distribution of the property to which it relates;

(5) During the fiduciary's administration of the estate and subject to all the other provisions of this instrument, to receive and receipt for all of the assets of the estate, and to have exclusive possession and control thereof;

(6) By public or private sale or sales, and for such consideration, on such terms and subject to such conditions, if any, as in the judgment of the fiduciary are for the best interests of the estate and the beneficiaries thereof, to sell, assign, transfer, convey, or exchange any real or personal property of the estate, or the estate's undivided interest in the property, or any specific part of or interest therein, including, but not limited to, standing timber, rock, gravel, sand, growing crops, oil, gas, and other minerals or mineral rights or interests, and to grant easements on real property of the estate, and to participate in the partition of real or personal property in which the estate has an undivided interest, and to accomplish any such transactions by contracts, indorsements, assignments, bills of sale, deeds, or other appropriate written instruments executed and delivered by the fiduciary in behalf of the estate, and to acknowledge the execution of the instruments in the manner provided by law for the acknowledgment of the execution of deeds when the acknowledgments are required or appropriate;

(7) For such consideration, on such terms, and subject to such conditions, if any, as in the judgment of the fiduciary are for the best interests of the estate and the beneficiaries thereof, to lease, for terms which may exceed the duration of the estate, any real or tangible personal property of the estate, or any specific parts thereof or interests therein, including, but not limited to, oil, gas, and other mineral leases, and to accomplish the leases by appropriate written instruments executed and delivered by the fiduciary in behalf of the estate, and to acknowledge the execution of the instruments in the manner provided by law for the acknowledgment of the execution of deeds when the acknowledgments are required or appropriate;

(8) In behalf of the estate, to: (A) Borrow money; (B) Evidence the loans by promissory notes or other evidences of indebtedness signed by the fiduciary in his or her fiduciary capacity, to be binding upon the assets of the estate but not upon the fiduciary in his or her individual capacity; (C) Secure loans by assigning or pledging personal property of the estate, or by mortgages or deeds of trust or other appropriate instruments imposing liens upon real property or tangible personal property of the estate; and (D) Repay the loans, including principal and interest due thereon;

(A) Borrow money;

(B) Evidence the loans by promissory notes or other evidences of indebtedness signed by the fiduciary in his or her fiduciary capacity, to be binding upon the assets of the estate but not upon the fiduciary in his or her individual capacity;

(C) Secure loans by assigning or pledging personal property of the estate, or by mortgages or deeds of trust or other appropriate instruments imposing liens upon real property or tangible personal property of the estate; and

(D) Repay the loans, including principal and interest due thereon;

(9) In behalf of the estate, to borrow money from the fiduciary in his or her individual capacity and to secure the loans in the same manner as though they were made by a third person;

(10) To enter into contracts binding upon the estate, but not upon the fiduciary in his or her individual capacity, which are reasonably incident to the administration of the estate, and which the fiduciary in the exercise of his or her best judgment believes to be for the best interests of the estate;

(11) To settle, by compromise or otherwise, claims or demands against the estate, or held in behalf of the estate;

(12) To release and satisfy of record, in whole or in part, and to enter of record credits upon, any mortgage or other lien constituting an asset of the estate;

(13) To abandon and charge off as worthless, in whole or in part, claims or demands held by or in behalf of the estate which, in the judgment of the fiduciary, are in whole or in part uncollectible;

(14) To pay taxes and excises lawfully chargeable against the assets of the estate which are in the possession or under the control of the fiduciary, including, but not limited to, ad valorem taxes upon real and personal property of the estate which became due and payable prior to the property's coming into the hands of the fiduciary, or which become due and payable while the property remains in his or her possession or under his or her control, excluding, however, income taxes payable by distributees, assessed with respect to income which has been distributed by the fiduciary pursuant to the provisions of this instrument;

(15) To repair and maintain in good condition real and tangible personal property of the estate so long as the property remains in the possession or under the control of the fiduciary;

(16) To invest liquid assets of the estate, and from time to time exchange or liquidate and reinvest the assets, pending distribution thereof, if and when such investments in the judgment of the fiduciary will not impede or delay distribution thereof pursuant to the provisions of this instrument or as otherwise by law required, and in the judgment of the fiduciary are advisable and for the best interests of the estate and the beneficiaries. In making investments the fiduciary shall be guided by the "prudent investor rule" as authorized and defined in § 28-71-105 , and the investments thus authorized shall be understood to include, but not to be limited to, loans secured by mortgages, or liens otherwise imposed, upon real or personal property;

(17) Subject to the making and keeping of appropriate records with respect thereto, which will at all times clearly identify the equitable rights and interests of the estate therein, to invest funds of the estate in undivided interests in negotiable or nonnegotiable securities, or other assets, the remaining undivided interests in which are held by the fiduciary in a fiduciary capacity for the use and benefit of other beneficiaries;

(18) To retain investments which initially come into the hands of the fiduciary among the assets of the estate, without liability for loss or depreciation or diminution in value resulting from the retention, so long as in the judgment of the fiduciary it is not clearly for the best interests of the estate, and the distributees thereof, that the investments be liquidated, although the investments may not be productive of income or otherwise may not be such as the fiduciary would be authorized to make;

(19) At any time and from time to time to keep all or any portion of the estate in liquid form, uninvested, for such time as the fiduciary may deem advisable, without liability for any loss of income occasioned by so doing;

(20) To deposit funds of the trust in one (1) or more accounts carried by the fiduciary, in a clearly specified fiduciary capacity, in any one (1) or more banks and trust companies whose deposits are insured under the provisions of the Federal Deposit Insurance Act as now constituted or as the same may be hereafter amended, and if the fiduciary is itself a bank or a trust company, and is otherwise qualified, he or she may serve as the depository;

(21) To deposit for safekeeping with any bank or trust company, including the fiduciary himself or herself if he or she is a bank or trust company, any negotiable or nonnegotiable securities or other documents constituting assets or records of the estate;

(22) To bring and prosecute or to defend actions at law or in equity for the protection of the assets or interests of the estate or for the protection or enforcement of the provisions of this instrument;

(23) To employ attorneys, accountants, or other persons whose services may be necessary or advisable, in the judgment of the fiduciary, to advise or assist him or her in the discharge of his or her duties, or in the conduct of any business constituting an asset of the estate, or in the management, maintenance, improvement, preservation, or protection of any property of the estate, or otherwise in the exercise of any powers vested in the fiduciary;

(24) To procure and pay premiums on policies of insurance to protect the estate, or any of the assets thereof, against liability for personal injuries or property damage, or against loss or damage by reason of fire, windstorm, collision, theft, embezzlement, or other hazards against which insurance is normally carried in connection with activities or on properties such as those with respect to which the fiduciary procures insurance;

(25) To allocate items of receipts or disbursements to either corpus or income of the estate, as the fiduciary in the exercise of his or her best judgment and discretion deems to be proper, without thereby doing violence to clearly established and generally recognized principles of accounting;

(26) On behalf of the estate, to purchase or otherwise lawfully acquire real or personal property, or undivided interests therein, the ownership of which, in the judgment of the fiduciary, will be advantageous to the estate, and the beneficiary or beneficiaries thereof;

(27) To construct improvements on real property of the estate, or to remove or otherwise dispose of improvements, when the action is in the judgment of the fiduciary advisable and for the best interests of the estate;

(28) To exercise in person or by proxy, with or without a power of substitution vested in the proxy, all voting rights incident to the ownership of corporate stock or other securities constituting assets of the estate, and to exercise all other rights and privileges incident to the ownership of the securities, including, but not limited to, the right to sell, exchange, endorse, or otherwise transfer the securities, to consent to, or to oppose, reorganizations, consolidations, mergers, or other proposed corporate actions by the issuer of the securities, to exercise or decline to exercise options to purchase additional shares or units of the securities or of related securities, and to pay all assessments or other expenses necessary in the judgment of the fiduciary for the protection of the securities or of the value thereof;

(29) To employ any bank or trust company to serve as custodian of any securities constituting assets of the estate, and to cause the securities, if they are nonassessable, to be registered in the name of the custodian or of its nominee, without disclosure that they are held in a fiduciary capacity; to authorize the bank or trust company, as agent and on behalf of the fiduciary, to collect, receive, and receipt for income derived from the securities, or the proceeds of sales, assignments, or exchanges thereof made by authority and under the direction of the fiduciary, and to remit to the fiduciary the income or other proceeds derived from the securities; and to pay to the custodian reasonable and customary charges made by it for the performance of the services. However, any such action taken by the fiduciary shall not increase, decrease, or otherwise affect his or her liability, responsibility, or accountability with respect to the securities;

(30) To register nonassessable securities constituting assets of the estate in the name of the fiduciary or of his or her nominee, without disclosure that the securities are held in a fiduciary capacity, or to hold the securities unregistered or otherwise in a form that the title thereto will pass by delivery, without, in any case, increasing, decreasing, or otherwise affecting the fiduciary's liability, responsibility, or accountability with respect to the securities;

(31) In making distribution of capital assets of the estate to distributees under the provisions of this instrument, except when otherwise required by other provisions of this instrument, to make the distribution in kind or in cash, or partially in kind and partially in cash, as the fiduciary finds to be most practicable and for the best interests of the distributees; to distribute real property to two (2) or more distributees in division, or to partition the real property for the purpose of distribution, as the fiduciary in the exercise of his or her best judgment finds to be most practicable and for the best interests of the distributees; and to determine the value of capital assets for the purpose of making distribution of the assets if and when there is more than one (1) distributee. The determination shall be binding upon the distributees unless clearly capricious, erroneous, and inequitable;

(32) To do any and all other things, not in violation of any other terms of this instrument, which, in the judgment of the fiduciary, are necessary or appropriate for the proper management, investment, and distribution of the assets of the estate in accordance with the provisions of this instrument, and in his or her judgment are for the best interests of the estate and its beneficiaries;

(33) To inspect property held by the fiduciary, including interests in sole proprietorships, partnerships, or corporations and any assets owned by any such business enterprise, for the purpose of determining compliance with environmental laws affecting such property and to respond to any actual or threatened violation of any environmental law affecting property held by the fiduciary;

(34) To take, on behalf of the estate or trust, any action necessary to prevent, abate, or otherwise remedy any actual or threatened violation of any environmental law affecting property held by the fiduciary, either before or after the initiation of an enforcement action by any governmental body;

(35) To refuse to accept property in trust if the fiduciary determines that any property to be donated to the trust either is contaminated by any hazardous substance or is being used or has been used for any activity directly or indirectly involving a hazardous substance which could result in liability to the trust or otherwise impair the value of the assets held therein;

(36) To settle or compromise at any time any and all claims against the trust or estate which may be asserted by any governmental body or private party involving the alleged violation of any environmental law affecting property held in trust or in an estate;

(37) To disclaim any power granted by any document, statute, or rule of law which, in the sole discretion of the fiduciary, may cause the fiduciary to incur personal liability under any environmental law;

(38) To decline to serve as a fiduciary if the fiduciary reasonably believes that there is or may be a conflict of interest between its fiduciary capacity and its individual capacity because of potential claims or liabilities which may be asserted against it on behalf of the trust or estate because of the type or condition of assets held therein.

Acts 1961, No. 153, § 3; A.S.A. 1947, § 58-116; Acts 1993, No. 421, § 1.
Ark. Code Ann. § 28-70-202 — AR Code / Title 28 / Chapter 70 / Subchapter 2 / Section 28-70-202
[Repealed]
Status: repealed

Repealed by Act 2021, No. 1088,§ 1, eff. 1/1/2022. Acts 1999, No. 647, § 202.

Repealed by Act 2021, No. 1088,§ 1, eff. 1/1/2022.

Acts 1999, No. 647, § 202.
Ark. Code Ann. § 28-42-107 — AR Code / Title 28 / Chapter 42 / Section 28-42-107
Payment of claims generally
Status: in_force

An ancillary personal representative may pay a claim against the estate only if it has been presented and allowed in the manner and within the time required to establish a claim against an estate of domiciliary administration in this state. Acts 1949, No. 140, § 184; A.S.A. 1947, § 62-3106.

An ancillary personal representative may pay a claim against the estate only if it has been presented and allowed in the manner and within the time required to establish a claim against an estate of domiciliary administration in this state.

Acts 1949, No. 140, § 184; A.S.A. 1947, § 62-3106.
Ark. Code Ann. § 28-48-106 — AR Code / Title 28 / Chapter 48 / Subchapter 1 / Section 28-48-106
Death or incompetency - Protection of estate
Status: in_force

(a) The death of a personal representative or the appointment of a guardian for the estate of a personal representative terminates his or her appointment. (b) Until appointment and qualification of a successor or special representative to replace the deceased or incompetent representative, the representative of the estate of the deceased or incompetent personal representative, if any, has the duty to protect the estate possessed and being administered by his or her decedent or ward at the time his or her appointment terminates, has the power to perform acts necessary for protection, and shall account for and deliver the estate assets to a successor or special personal representative upon his or her appointment and qualification. Acts 1975, No. 620, § 14; A.S.A. 1947, § 62-2203.1.

(a) The death of a personal representative or the appointment of a guardian for the estate of a personal representative terminates his or her appointment.

(b) Until appointment and qualification of a successor or special representative to replace the deceased or incompetent representative, the representative of the estate of the deceased or incompetent personal representative, if any, has the duty to protect the estate possessed and being administered by his or her decedent or ward at the time his or her appointment terminates, has the power to perform acts necessary for protection, and shall account for and deliver the estate assets to a successor or special personal representative upon his or her appointment and qualification.

Acts 1975, No. 620, § 14; A.S.A. 1947, § 62-2203.1.
Ark. Code Ann. § 28-52-102 — AR Code / Title 28 / Chapter 52 / Section 28-52-102
Duty to close estate
Status: in_force

(a) A personal representative shall close the estate as promptly as practicable. (b) Upon petition of an interested person, the court may cite the personal representative to show cause why an estate should not be closed. Acts 1949, No. 140, § 148; A.S.A. 1947, § 62-2802.

(a) A personal representative shall close the estate as promptly as practicable.

(b) Upon petition of an interested person, the court may cite the personal representative to show cause why an estate should not be closed.

Acts 1949, No. 140, § 148; A.S.A. 1947, § 62-2802.
Ark. Code Ann. § 28-51-307 — AR Code / Title 28 / Chapter 51 / Subchapter 3 / Section 28-51-307
Expenses of sale
Status: in_force

In connection with the sale, mortgage, lease, or exchange of property, the court may authorize the personal representative to pay, out of the proceeds realized or out of the estate, the customary and reasonable auctioneers' and brokers' fees and any necessary expenses for abstracting, title insurance, survey, revenue stamps, and other necessary costs and expenses in connection therewith. Acts 1949, No. 140, § 144; A.S.A. 1947, § 62-2721.

In connection with the sale, mortgage, lease, or exchange of property, the court may authorize the personal representative to pay, out of the proceeds realized or out of the estate, the customary and reasonable auctioneers' and brokers' fees and any necessary expenses for abstracting, title insurance, survey, revenue stamps, and other necessary costs and expenses in connection therewith.

Acts 1949, No. 140, § 144; A.S.A. 1947, § 62-2721.
Ark. Code Ann. § 28-14-108 — AR Code / Title 28 / Chapter 14 / Section 28-14-108
Protection of registering entity
Status: in_force

(a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this chapter. (b) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this chapter. (c) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with § 28-14-107 and does so in good faith reliance (i) on the registration, (ii) on this chapter, and (iii) on information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's representatives, or other information available to the registering entity. The protections of this chapter do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this chapter. (d) The protection provided by this chapter to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds. Acts 1993, No. 114, § 8.

(a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this chapter.

(b) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this chapter.

(c) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with § 28-14-107 and does so in good faith reliance (i) on the registration, (ii) on this chapter, and (iii) on information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's representatives, or other information available to the registering entity. The protections of this chapter do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this chapter.

(d) The protection provided by this chapter to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds.

Acts 1993, No. 114, § 8.
Ark. Code Ann. § 28-51-302 — AR Code / Title 28 / Chapter 51 / Subchapter 3 / Section 28-51-302
Valuation
Status: in_force

(a) Before a personal representative shall sell real property, he or she shall have it valued by a certified appraiser, a licensed real estate agent or broker, or another real estate professional. (b) The evaluator shall value the real property at its full and fair value and immediately deliver the valuation certified by him or her under oath to the personal representative. (c) The valuation shall be filed with the clerk prior to or contemporaneously with the order authorizing the sale. (d) In connection with a hearing on the petition for the order of sale, or prior to the hearing, upon proper notice, the court, upon evidence heard, may approve, modify, or reject the valuation. Amended by Act 2023, No. 326,§ 6, eff. 8/1/2023. Acts 1949, No. 140, § 139; A.S.A. 1947, § 62-2716; Acts 1995, No. 406, § 1.

(a) Before a personal representative shall sell real property, he or she shall have it valued by a certified appraiser, a licensed real estate agent or broker, or another real estate professional.

(b) The evaluator shall value the real property at its full and fair value and immediately deliver the valuation certified by him or her under oath to the personal representative.

(c) The valuation shall be filed with the clerk prior to or contemporaneously with the order authorizing the sale.

(d) In connection with a hearing on the petition for the order of sale, or prior to the hearing, upon proper notice, the court, upon evidence heard, may approve, modify, or reject the valuation.

Amended by Act 2023, No. 326,§ 6, eff. 8/1/2023.

Acts 1949, No. 140, § 139; A.S.A. 1947, § 62-2716; Acts 1995, No. 406, § 1.
Ark. Code Ann. § 28-48-303 — AR Code / Title 28 / Chapter 48 / Subchapter 3 / Section 28-48-303
Bond
Status: in_force

The sheriff and the sureties on his or her official bond shall be responsible for each estate for which he or she acts as public administrator for the faithful performance of his or her duties as such. However, the court in the exercise of its discretion may require him or her to file a bond as is provided in the Probate Code to be filed by a general personal representative, and the liability of the sureties on the special bond, if any, shall be exhausted before resort to the official bond. Acts 1949, No. 140, § 176; A.S.A. 1947, § 62-3003.

The sheriff and the sureties on his or her official bond shall be responsible for each estate for which he or she acts as public administrator for the faithful performance of his or her duties as such. However, the court in the exercise of its discretion may require him or her to file a bond as is provided in the Probate Code to be filed by a general personal representative, and the liability of the sureties on the special bond, if any, shall be exhausted before resort to the official bond.

Acts 1949, No. 140, § 176; A.S.A. 1947, § 62-3003.
Ark. Code Ann. § 28-66-115 — AR Code / Title 28 / Chapter 66 / Section 28-66-115
Purchase of home for ward
Status: in_force

(1) The court may authorize the purchase of the entire fee simple title to real estate in this state in which the guardian has no interest, but only as a home for the ward, or to protect his interest, or (if he is not a minor) as a home for his dependent family. Such purchase of real estate shall not be made except upon the entry of an order of the court after hearing upon verified petition. A copy of the petition shall be furnished the proper office of the United States Department of Veterans Affairs and notice of hearing thereon shall be given said office as provided in the case of hearing on a guardian's account. As used in this subdivision (1), "no interest" means that a guardian should not even have a mortgage lien interest in the real estate purchased as a home for the ward. (2) Before authorizing such investment, the court shall require written evidence of value and of title and of the advisability of acquiring such real estate. Title shall be taken in the ward's name. This section does not limit the right of the guardian on behalf of his ward to bid and to become the purchaser of real estate at a sale thereof pursuant to decree of foreclosure of lien held by or for the ward, or at a trustee's sale, to protect the ward's right in the property so foreclosed or sold; nor does it limit the right of the guardian, if such be necessary to protect the ward's interest and upon prior order of the court in which the guardianship is pending, to agree with cotenants of the ward for a partition in kind, or to purchase from cotenants the entire undivided interest held by them, or to bid and purchase the same at a sale under a partition decree, or to compromise adverse claims of title to the ward's realty. Acts 1943, No. 177, § 15; A.S.A. 1947, § 57-515; Acts 2005, No. 658, § 3.

(1) The court may authorize the purchase of the entire fee simple title to real estate in this state in which the guardian has no interest, but only as a home for the ward, or to protect his interest, or (if he is not a minor) as a home for his dependent family. Such purchase of real estate shall not be made except upon the entry of an order of the court after hearing upon verified petition. A copy of the petition shall be furnished the proper office of the United States Department of Veterans Affairs and notice of hearing thereon shall be given said office as provided in the case of hearing on a guardian's account. As used in this subdivision (1), "no interest" means that a guardian should not even have a mortgage lien interest in the real estate purchased as a home for the ward.

(2) Before authorizing such investment, the court shall require written evidence of value and of title and of the advisability of acquiring such real estate. Title shall be taken in the ward's name. This section does not limit the right of the guardian on behalf of his ward to bid and to become the purchaser of real estate at a sale thereof pursuant to decree of foreclosure of lien held by or for the ward, or at a trustee's sale, to protect the ward's right in the property so foreclosed or sold; nor does it limit the right of the guardian, if such be necessary to protect the ward's interest and upon prior order of the court in which the guardianship is pending, to agree with cotenants of the ward for a partition in kind, or to purchase from cotenants the entire undivided interest held by them, or to bid and purchase the same at a sale under a partition decree, or to compromise adverse claims of title to the ward's realty.

Acts 1943, No. 177, § 15; A.S.A. 1947, § 57-515; Acts 2005, No. 658, § 3.
Ark. Code Ann. § 28-73-1011 — AR Code / Title 28 / Chapter 73 / Subchapter 10 / Section 28-73-1011
Interest as general partner
Status: in_force

(a) Except as otherwise provided in subsection (c) or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the Uniform Partnership Act (1996), § 4-46-101 et seq., or the Revised Limited Partnership Act of 1991, § 4-43-101 et seq. [repealed]. (b) Except as otherwise provided in subsection (c), a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault. (c) The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee or is held by the trustee's spouse or one (1) or more of the trustee's descendants, siblings, or parents, or the spouse of any of them. (d) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner. Acts 2005, No. 1031, § 1.

(a) Except as otherwise provided in subsection (c) or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the Uniform Partnership Act (1996), § 4-46-101 et seq., or the Revised Limited Partnership Act of 1991, § 4-43-101 et seq. [repealed].

(b) Except as otherwise provided in subsection (c), a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.

(c) The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee or is held by the trustee's spouse or one (1) or more of the trustee's descendants, siblings, or parents, or the spouse of any of them.

(d) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-69-205 — AR Code / Title 28 / Chapter 69 / Subchapter 2 / Section 28-69-205
Investment in obligations of certain banks authorized
Status: in_force

Notwithstanding any other provision of law, any funds, including capital, belonging to or under the control of any bank, trust company, savings bank, or savings institution and any funds belonging to or under the control of any administrators, executors, trustees, fiduciaries, guardians, or curators of the estates of minors or insane persons may be invested in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, by the Inter-American Development Bank, by the Asian Development Bank, or by the African Development Bank. Acts 1949, No. 453, § 1; 1969, No. 349, § 1; 1973, No. 522, § 1; 1985, No. 943, § 1; A.S.A. 1947, § 58-113.

Notwithstanding any other provision of law, any funds, including capital, belonging to or under the control of any bank, trust company, savings bank, or savings institution and any funds belonging to or under the control of any administrators, executors, trustees, fiduciaries, guardians, or curators of the estates of minors or insane persons may be invested in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, by the Inter-American Development Bank, by the Asian Development Bank, or by the African Development Bank.

Acts 1949, No. 453, § 1; 1969, No. 349, § 1; 1973, No. 522, § 1; 1985, No. 943, § 1; A.S.A. 1947, § 58-113.
Ark. Code Ann. § 28-1-112 — AR Code / Title 28 / Chapter 1 / Section 28-1-112
Notice - Service - Proof - Costs
Status: in_force

(a) When Notice to Be Given. Notice to interested persons need be given only when and as specifically provided for in the Probate Code or as ordered by the court. When no notice is required by the Probate Code, the court, by rule or by order in a particular case, may require such notice as it deems desirable. (b) Kinds of Notice Required. Unless waived and except as otherwise provided by law, and subject to rule of the court or order of the court in a particular case specifying which of the following types of service shall be employed, notices required by the Probate Code may be served either: (1) By delivering a copy personally to a person, if a natural person, and, if a corporation or a partnership, by delivering a copy to an individual upon whom civil process may be legally served in behalf of the corporation or partnership at least ten (10) days prior to the date set for the hearing; (2) By leaving a copy at the usual place of abode of the person being served with some person over fifteen (15) years of age who is a member of his or her family, the notice to be served by an officer authorized to serve process in civil actions at least ten (10) days prior to the date set for the hearing; (3) By registered mail, requesting a return receipt signed by addressee only, addressed to the person to be served located in the United States at his or her address stated in the petition for the hearing, to be posted by depositing in any United States Post Office in this state at least fifteen (15) days prior to the date set for the hearing; (4) (A) By publishing one (1) time a week for two (2) consecutive weeks in a newspaper published and having a general circulation in the county, with the first day of publication to be at least fifteen (15) days prior to the date set for the hearing. (B) In addition, when service by publication only is employed, all persons whose names and addresses appear in the petition shall be served by ordinary mail, bearing on the envelope the return address of the clerk, in the same time and manner as provided in subdivision (b)(3) of this section with respect to notice by registered mail, except that no registration shall be required; (5) By any combination of two (2) or more of the methods set out in subdivisions (b)(1)-(4) of this section; or (6) By any method of service allowed by the Arkansas Rules of Civil Procedure. (c) By Whom Prepared, Signed, and Served. (1) Except when by statute or by order of the court otherwise expressly provided, a notice in a probate proceeding shall be in writing or print and prepared by or by procurement of the party upon whom rests the burden of giving the notice and shall be signed by the clerk or the attorney for the party upon whom rests the burden of giving notice. If service is to be by mail, the person preparing the notice shall sign it or deliver it to the clerk properly prepared for the clerk's signature. (2) (A) In the case of notices served by registered or certified mail, the clerk or the attorney of record in a probate proceeding for the party upon whom rests the burden of giving notice pursuant to this section may deposit the notices in the United States mail, cause the receipts for the delivery of the certified or registered mail to be returned to the clerk or the attorney, and duly prove service by the execution and filing with the clerk of the statement prescribed in subsection (f) of this section. (B) Personal service may be made in any part of this state and, except as provided by subdivision (b)(2) of this section, may be made by any person not an incompetent. (d) Service Upon an Incompetent Person. Except when otherwise expressly provided by statute with reference to a particular proceeding, notice to an incompetent person shall be served as follows: (1) Upon the guardian, if any, of the estate of the incompetent person if the proceedings affect his or her estate, and upon the guardian, if any, of the person of the incompetent person if the proceedings affect the control or custody of his or her person; (2) If there is no guardian of the estate or of the person upon whom notice may appropriately be served, service shall be upon the incompetent person, except: (A) If he or she is a minor under fourteen (14) years of age, service shall be upon the parent, or person in loco parentis, having custody or control of the minor; (B) If he or she is mentally incompetent and is confined in a hospital or institution for the treatment or care of mentally incompetent persons, service shall be upon the superintendent or acting superintendent of the hospital or institution. It shall be the superintendent's duty to promptly deliver or communicate the notice to the incompetent person; or (C) If he or she is a mentally incompetent person who is not confined in a hospital or institution for the treatment or care of mentally incompetent persons, but is in the care or under the control of a spouse of the incompetent person or of a person related to the incompetent person within the third degree of consanguinity, then service may be upon the spouse or near relative whose duty it shall be to deliver or communicate the notice to the incompetent person; and (3) In proceedings in which the interests of the incompetent person are adverse to the interests of his or her guardian, notice shall be served upon the incompetent person as provided in cases in which there is no guardian. (e) Service on Attorney. If there is an attorney of record for a party in a proceeding or matter pending in the court, all notices required to be served on the party in the proceeding or matter shall be served on the attorney, and this service shall be in lieu of service upon the party for whom the attorney appears. (f) Proof of Service. (1) Proof of service of notice, otherwise than by publication in a newspaper or posting, shall be made by filing with the clerk a copy of the notice which has endorsed thereon a statement naming the person or persons upon whom it was served, the time, place, and manner of service, and is signed by the person who served the notice. This certificate of notice shall be sworn to unless signed by an officer authorized by law to serve civil process, or signed by the clerk or by an attorney of this state. (2) In the case of service by registered mail, the return receipt shall be attached to the proof of service if a receipt has been received. If no receipt has been received, the court, in its discretion, may order further service on the party. (g) Proof of Publication. When notice by publication in a newspaper or by posting is required by the Probate Code or by the court, proof thereof shall be made as provided by law in civil proceedings. (h) Costs of Notice. All expense incurred in giving notice under the provisions of the Probate Code shall be taxed as costs in the proceeding. Acts 1949, No. 140, § 12; 1951, No. 255, § 2; A.S.A. 1947, § 62-2012; Acts 1995, No. 734, § 1; 2001, No. 240, § 1.

(a) When Notice to Be Given. Notice to interested persons need be given only when and as specifically provided for in the Probate Code or as ordered by the court. When no notice is required by the Probate Code, the court, by rule or by order in a particular case, may require such notice as it deems desirable.

(b) Kinds of Notice Required. Unless waived and except as otherwise provided by law, and subject to rule of the court or order of the court in a particular case specifying which of the following types of service shall be employed, notices required by the Probate Code may be served either: (1) By delivering a copy personally to a person, if a natural person, and, if a corporation or a partnership, by delivering a copy to an individual upon whom civil process may be legally served in behalf of the corporation or partnership at least ten (10) days prior to the date set for the hearing; (2) By leaving a copy at the usual place of abode of the person being served with some person over fifteen (15) years of age who is a member of his or her family, the notice to be served by an officer authorized to serve process in civil actions at least ten (10) days prior to the date set for the hearing; (3) By registered mail, requesting a return receipt signed by addressee only, addressed to the person to be served located in the United States at his or her address stated in the petition for the hearing, to be posted by depositing in any United States Post Office in this state at least fifteen (15) days prior to the date set for the hearing; (4) (A) By publishing one (1) time a week for two (2) consecutive weeks in a newspaper published and having a general circulation in the county, with the first day of publication to be at least fifteen (15) days prior to the date set for the hearing. (B) In addition, when service by publication only is employed, all persons whose names and addresses appear in the petition shall be served by ordinary mail, bearing on the envelope the return address of the clerk, in the same time and manner as provided in subdivision (b)(3) of this section with respect to notice by registered mail, except that no registration shall be required; (5) By any combination of two (2) or more of the methods set out in subdivisions (b)(1)-(4) of this section; or (6) By any method of service allowed by the Arkansas Rules of Civil Procedure.

(1) By delivering a copy personally to a person, if a natural person, and, if a corporation or a partnership, by delivering a copy to an individual upon whom civil process may be legally served in behalf of the corporation or partnership at least ten (10) days prior to the date set for the hearing;

(2) By leaving a copy at the usual place of abode of the person being served with some person over fifteen (15) years of age who is a member of his or her family, the notice to be served by an officer authorized to serve process in civil actions at least ten (10) days prior to the date set for the hearing;

(3) By registered mail, requesting a return receipt signed by addressee only, addressed to the person to be served located in the United States at his or her address stated in the petition for the hearing, to be posted by depositing in any United States Post Office in this state at least fifteen (15) days prior to the date set for the hearing;

(4) (A) By publishing one (1) time a week for two (2) consecutive weeks in a newspaper published and having a general circulation in the county, with the first day of publication to be at least fifteen (15) days prior to the date set for the hearing. (B) In addition, when service by publication only is employed, all persons whose names and addresses appear in the petition shall be served by ordinary mail, bearing on the envelope the return address of the clerk, in the same time and manner as provided in subdivision (b)(3) of this section with respect to notice by registered mail, except that no registration shall be required;

(A) By publishing one (1) time a week for two (2) consecutive weeks in a newspaper published and having a general circulation in the county, with the first day of publication to be at least fifteen (15) days prior to the date set for the hearing.

(B) In addition, when service by publication only is employed, all persons whose names and addresses appear in the petition shall be served by ordinary mail, bearing on the envelope the return address of the clerk, in the same time and manner as provided in subdivision (b)(3) of this section with respect to notice by registered mail, except that no registration shall be required;

(5) By any combination of two (2) or more of the methods set out in subdivisions (b)(1)-(4) of this section; or

(6) By any method of service allowed by the Arkansas Rules of Civil Procedure.

(c) By Whom Prepared, Signed, and Served. (1) Except when by statute or by order of the court otherwise expressly provided, a notice in a probate proceeding shall be in writing or print and prepared by or by procurement of the party upon whom rests the burden of giving the notice and shall be signed by the clerk or the attorney for the party upon whom rests the burden of giving notice. If service is to be by mail, the person preparing the notice shall sign it or deliver it to the clerk properly prepared for the clerk's signature. (2) (A) In the case of notices served by registered or certified mail, the clerk or the attorney of record in a probate proceeding for the party upon whom rests the burden of giving notice pursuant to this section may deposit the notices in the United States mail, cause the receipts for the delivery of the certified or registered mail to be returned to the clerk or the attorney, and duly prove service by the execution and filing with the clerk of the statement prescribed in subsection (f) of this section. (B) Personal service may be made in any part of this state and, except as provided by subdivision (b)(2) of this section, may be made by any person not an incompetent.

(1) Except when by statute or by order of the court otherwise expressly provided, a notice in a probate proceeding shall be in writing or print and prepared by or by procurement of the party upon whom rests the burden of giving the notice and shall be signed by the clerk or the attorney for the party upon whom rests the burden of giving notice. If service is to be by mail, the person preparing the notice shall sign it or deliver it to the clerk properly prepared for the clerk's signature.

(2) (A) In the case of notices served by registered or certified mail, the clerk or the attorney of record in a probate proceeding for the party upon whom rests the burden of giving notice pursuant to this section may deposit the notices in the United States mail, cause the receipts for the delivery of the certified or registered mail to be returned to the clerk or the attorney, and duly prove service by the execution and filing with the clerk of the statement prescribed in subsection (f) of this section. (B) Personal service may be made in any part of this state and, except as provided by subdivision (b)(2) of this section, may be made by any person not an incompetent.

(A) In the case of notices served by registered or certified mail, the clerk or the attorney of record in a probate proceeding for the party upon whom rests the burden of giving notice pursuant to this section may deposit the notices in the United States mail, cause the receipts for the delivery of the certified or registered mail to be returned to the clerk or the attorney, and duly prove service by the execution and filing with the clerk of the statement prescribed in subsection (f) of this section.

(B) Personal service may be made in any part of this state and, except as provided by subdivision (b)(2) of this section, may be made by any person not an incompetent.

(d) Service Upon an Incompetent Person. Except when otherwise expressly provided by statute with reference to a particular proceeding, notice to an incompetent person shall be served as follows: (1) Upon the guardian, if any, of the estate of the incompetent person if the proceedings affect his or her estate, and upon the guardian, if any, of the person of the incompetent person if the proceedings affect the control or custody of his or her person; (2) If there is no guardian of the estate or of the person upon whom notice may appropriately be served, service shall be upon the incompetent person, except: (A) If he or she is a minor under fourteen (14) years of age, service shall be upon the parent, or person in loco parentis, having custody or control of the minor; (B) If he or she is mentally incompetent and is confined in a hospital or institution for the treatment or care of mentally incompetent persons, service shall be upon the superintendent or acting superintendent of the hospital or institution. It shall be the superintendent's duty to promptly deliver or communicate the notice to the incompetent person; or (C) If he or she is a mentally incompetent person who is not confined in a hospital or institution for the treatment or care of mentally incompetent persons, but is in the care or under the control of a spouse of the incompetent person or of a person related to the incompetent person within the third degree of consanguinity, then service may be upon the spouse or near relative whose duty it shall be to deliver or communicate the notice to the incompetent person; and (3) In proceedings in which the interests of the incompetent person are adverse to the interests of his or her guardian, notice shall be served upon the incompetent person as provided in cases in which there is no guardian.

(1) Upon the guardian, if any, of the estate of the incompetent person if the proceedings affect his or her estate, and upon the guardian, if any, of the person of the incompetent person if the proceedings affect the control or custody of his or her person;

(2) If there is no guardian of the estate or of the person upon whom notice may appropriately be served, service shall be upon the incompetent person, except: (A) If he or she is a minor under fourteen (14) years of age, service shall be upon the parent, or person in loco parentis, having custody or control of the minor; (B) If he or she is mentally incompetent and is confined in a hospital or institution for the treatment or care of mentally incompetent persons, service shall be upon the superintendent or acting superintendent of the hospital or institution. It shall be the superintendent's duty to promptly deliver or communicate the notice to the incompetent person; or (C) If he or she is a mentally incompetent person who is not confined in a hospital or institution for the treatment or care of mentally incompetent persons, but is in the care or under the control of a spouse of the incompetent person or of a person related to the incompetent person within the third degree of consanguinity, then service may be upon the spouse or near relative whose duty it shall be to deliver or communicate the notice to the incompetent person; and

(A) If he or she is a minor under fourteen (14) years of age, service shall be upon the parent, or person in loco parentis, having custody or control of the minor;

(B) If he or she is mentally incompetent and is confined in a hospital or institution for the treatment or care of mentally incompetent persons, service shall be upon the superintendent or acting superintendent of the hospital or institution. It shall be the superintendent's duty to promptly deliver or communicate the notice to the incompetent person; or

(C) If he or she is a mentally incompetent person who is not confined in a hospital or institution for the treatment or care of mentally incompetent persons, but is in the care or under the control of a spouse of the incompetent person or of a person related to the incompetent person within the third degree of consanguinity, then service may be upon the spouse or near relative whose duty it shall be to deliver or communicate the notice to the incompetent person; and

(3) In proceedings in which the interests of the incompetent person are adverse to the interests of his or her guardian, notice shall be served upon the incompetent person as provided in cases in which there is no guardian.

(e) Service on Attorney. If there is an attorney of record for a party in a proceeding or matter pending in the court, all notices required to be served on the party in the proceeding or matter shall be served on the attorney, and this service shall be in lieu of service upon the party for whom the attorney appears.

(f) Proof of Service. (1) Proof of service of notice, otherwise than by publication in a newspaper or posting, shall be made by filing with the clerk a copy of the notice which has endorsed thereon a statement naming the person or persons upon whom it was served, the time, place, and manner of service, and is signed by the person who served the notice. This certificate of notice shall be sworn to unless signed by an officer authorized by law to serve civil process, or signed by the clerk or by an attorney of this state. (2) In the case of service by registered mail, the return receipt shall be attached to the proof of service if a receipt has been received. If no receipt has been received, the court, in its discretion, may order further service on the party.

(1) Proof of service of notice, otherwise than by publication in a newspaper or posting, shall be made by filing with the clerk a copy of the notice which has endorsed thereon a statement naming the person or persons upon whom it was served, the time, place, and manner of service, and is signed by the person who served the notice. This certificate of notice shall be sworn to unless signed by an officer authorized by law to serve civil process, or signed by the clerk or by an attorney of this state.

(2) In the case of service by registered mail, the return receipt shall be attached to the proof of service if a receipt has been received. If no receipt has been received, the court, in its discretion, may order further service on the party.

(g) Proof of Publication. When notice by publication in a newspaper or by posting is required by the Probate Code or by the court, proof thereof shall be made as provided by law in civil proceedings.

(h) Costs of Notice. All expense incurred in giving notice under the provisions of the Probate Code shall be taxed as costs in the proceeding.

Acts 1949, No. 140, § 12; 1951, No. 255, § 2; A.S.A. 1947, § 62-2012; Acts 1995, No. 734, § 1; 2001, No. 240, § 1.
Ark. Code Ann. § 28-73-809 — AR Code / Title 28 / Chapter 73 / Subchapter 8 / Section 28-73-809
Control and protection of trust property
Status: in_force

A trustee shall take reasonable steps to take control of and protect the trust property. Acts 2005, No. 1031, § 1.

A trustee shall take reasonable steps to take control of and protect the trust property.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-15-105 — AR Code / Title 28 / Chapter 15 / Section 28-15-105
Community property presumption
Status: in_force

All property acquired by a community-property spouse when domiciled in a jurisdiction where community property then could be acquired by the community-property spouse by operation of law is presumed to be community property. This presumption may be rebutted by a preponderance of the evidence. Added by Act 2023, No. 582,§ 1, eff. 8/1/2023.

All property acquired by a community-property spouse when domiciled in a jurisdiction where community property then could be acquired by the community-property spouse by operation of law is presumed to be community property. This presumption may be rebutted by a preponderance of the evidence.

Added by Act 2023, No. 582,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 28-39-205 — AR Code / Title 28 / Chapter 39 / Subchapter 2 / Section 28-39-205
Contest of commissioners' report
Status: in_force

(a) Either party may put in issue the truth of the report of the commissioners, by a petition filed in the court having probate jurisdiction. (b) A summons shall be issued as in other cases, giving at least fifteen (15) days' notice to the adverse party, requiring him or her to appear and answer. (c) The costs of these proceedings shall be paid as in other cases. Acts 1873, No. 105, § 6, p. 244; C. & M. Dig., § 5535; Pope's Dig., § 7174; A.S.A. 1947, § 62-607.

(a) Either party may put in issue the truth of the report of the commissioners, by a petition filed in the court having probate jurisdiction.

(b) A summons shall be issued as in other cases, giving at least fifteen (15) days' notice to the adverse party, requiring him or her to appear and answer.

(c) The costs of these proceedings shall be paid as in other cases.

Acts 1873, No. 105, § 6, p. 244; C. & M. Dig., § 5535; Pope's Dig., § 7174; A.S.A. 1947, § 62-607.
Ark. Code Ann. § 28-53-107 — AR Code / Title 28 / Chapter 53 / Subchapter 1 / Section 28-53-107
Abatement
Status: in_force

(a) Except as provided in subsection (c) of this section, shares of the distributees shall abate for the payment of claims, legacies, the family allowances, the shares of pretermitted heirs, or the share of the surviving spouse who is entitled to and elects to take against the will, without any preference or priority as between real and personal property, in the following order: (1) Property not disposed of by the will; (2) Property devised to the residuary devisee; (3) Property disposed of by the will but not specifically devised and not devised to the residuary devisee; and (4) Property specifically devised. (b) (1) A general devise charged on any specific property or fund, for purpose of abatement, shall be deemed property specifically devised to the extent of the value of the thing on which it is charged. (2) Upon the failure or insufficiency of the thing on which it is charged, it shall be deemed property not specifically devised to the extent of the failure or insufficiency. (c) If the provisions of the will or the testamentary plan or the express or implied purpose of the devise would be defeated by the order of abatement stated in subsection (a) of this section, the shares of distributees shall abate in such other manner as may be found necessary to give effect to the intention of the testator. Acts 1949, No. 140, § 162; A.S.A. 1947, § 62-2903.

(a) Except as provided in subsection (c) of this section, shares of the distributees shall abate for the payment of claims, legacies, the family allowances, the shares of pretermitted heirs, or the share of the surviving spouse who is entitled to and elects to take against the will, without any preference or priority as between real and personal property, in the following order: (1) Property not disposed of by the will; (2) Property devised to the residuary devisee; (3) Property disposed of by the will but not specifically devised and not devised to the residuary devisee; and (4) Property specifically devised.

(1) Property not disposed of by the will;

(2) Property devised to the residuary devisee;

(3) Property disposed of by the will but not specifically devised and not devised to the residuary devisee; and

(4) Property specifically devised.

(b) (1) A general devise charged on any specific property or fund, for purpose of abatement, shall be deemed property specifically devised to the extent of the value of the thing on which it is charged. (2) Upon the failure or insufficiency of the thing on which it is charged, it shall be deemed property not specifically devised to the extent of the failure or insufficiency.

(1) A general devise charged on any specific property or fund, for purpose of abatement, shall be deemed property specifically devised to the extent of the value of the thing on which it is charged.

(2) Upon the failure or insufficiency of the thing on which it is charged, it shall be deemed property not specifically devised to the extent of the failure or insufficiency.

(c) If the provisions of the will or the testamentary plan or the express or implied purpose of the devise would be defeated by the order of abatement stated in subsection (a) of this section, the shares of distributees shall abate in such other manner as may be found necessary to give effect to the intention of the testator.

Acts 1949, No. 140, § 162; A.S.A. 1947, § 62-2903.
Ark. Code Ann. § 28-65-214 — AR Code / Title 28 / Chapter 65 / Subchapter 2 / Section 28-65-214
Guardianship order
Status: in_force

(a) A court order establishing a guardianship shall contain findings of fact that the respondent is an incapacitated person and is in need of a guardian for the person or estate, or both. The order may limit the power and duties of the guardian and may define the legal and civil rights retained by the incapacitated person. (b) If satisfied that a guardian should be appointed, the court shall appoint one (1) or two (2) general or limited guardians of the person or estate, or both, but not more than one (1) guardian of the person shall be appointed unless they are husband and wife. (c) The order shall specify the nature of the guardianship and the amount of the bond to be given. (d) If the court determines the guardians should be limited, the order shall set forth the specific powers, authorities, and duties the guardian shall possess, which may be stated in terms of powers or rights the incapacitated person may exercise without intervention of the guardian. (e) In defining the powers and duties of the guardian, the court shall consider the right of the incapacitated person to rely upon nonmedical remedial treatment in accordance with a recognized religious method of healing in lieu of medical care. (f) In cases involving minor children, the order may make provisions for visitation and child support as in other cases involving child custody. Acts 1985, No. 940, §§ 16, 17; A.S.A. 1947, §§ 57-835, 57-836; Acts 2003, No. 760, § 1.

(a) A court order establishing a guardianship shall contain findings of fact that the respondent is an incapacitated person and is in need of a guardian for the person or estate, or both. The order may limit the power and duties of the guardian and may define the legal and civil rights retained by the incapacitated person.

(b) If satisfied that a guardian should be appointed, the court shall appoint one (1) or two (2) general or limited guardians of the person or estate, or both, but not more than one (1) guardian of the person shall be appointed unless they are husband and wife.

(c) The order shall specify the nature of the guardianship and the amount of the bond to be given.

(d) If the court determines the guardians should be limited, the order shall set forth the specific powers, authorities, and duties the guardian shall possess, which may be stated in terms of powers or rights the incapacitated person may exercise without intervention of the guardian.

(e) In defining the powers and duties of the guardian, the court shall consider the right of the incapacitated person to rely upon nonmedical remedial treatment in accordance with a recognized religious method of healing in lieu of medical care.

(f) In cases involving minor children, the order may make provisions for visitation and child support as in other cases involving child custody.

Acts 1985, No. 940, §§ 16, 17; A.S.A. 1947, §§ 57-835, 57-836; Acts 2003, No. 760, § 1.
Ark. Code Ann. § 28-65-304 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-304
Title and possession of estate
Status: in_force

The guardian of the estate shall take possession of all of the ward's real and personal property, and of rents, income, issue, and of the proceeds arising from the sale, mortgage, lease, or exchange thereof. Subject to the possession, the title to all the estate and to the increment and proceeds of the estate shall be in the ward and not in the guardian. Acts 1985, No. 940, § 27; A.S.A. 1947, § 57-846.

The guardian of the estate shall take possession of all of the ward's real and personal property, and of rents, income, issue, and of the proceeds arising from the sale, mortgage, lease, or exchange thereof. Subject to the possession, the title to all the estate and to the increment and proceeds of the estate shall be in the ward and not in the guardian.

Acts 1985, No. 940, § 27; A.S.A. 1947, § 57-846.
Ark. Code Ann. § 28-51-103 — AR Code / Title 28 / Chapter 51 / Subchapter 1 / Section 28-51-103
Transfers pursuant to court orders
Status: in_force

(a) Real or personal property belonging to an estate may be sold, mortgaged, leased, or exchanged under court order when necessary for any of the following purposes: (1) For the payment of claims; (2) For the payment of a legacy given by the will of the decedent; (3) For the preservation or protection of assets of the estate; (4) For making distribution of the estate or any part thereof; or (5) For any other purpose in the best interest of the estate. (b) In the event the selection of property of the estate to be sold for any of the purposes enumerated in subsection (a) of this section results in a discrimination against the distributees of the property ordered sold, the court, in the distribution of the estate, shall order contribution to be made between the respective distributees in such manner as to equitably distribute the burden of payment of claims and to avoid an infringement of the substantive rights of the distributees of the estate. (c) Real or personal property specifically devised or bequeathed shall not be sold for the purpose of the payment of claims if other assets of the estate are available. (d) An order authorizing a personal representative to sell, mortgage, or lease real or personal property for the payment of obligations of the estate shall not be granted if any of the persons interested in the estate shall execute and file in the court a bond in a sum and with sureties as the court may approve, conditioned as the court may direct, to preserve the rights and equities of all interested persons, within such time as the court shall direct. An action may be maintained on the bond by the personal representative on behalf of any interested person who is prejudiced by breach of any obligation of the bond. (e) (1) Upon the petition of a creditor or other interested person, the court shall require the personal representative to show cause why he or she should not proceed to sell, mortgage, or lease specific property of the estate for a purpose enumerated in subsection (a) of this section. (2) If, after a hearing, the court finds it to be advantageous to the estate or necessary for the protection of the rights of interested persons, the court shall order the personal representative to proceed with the sale, mortgage, or lease of the property. Acts 1949, No. 140, §§ 127-129; A.S.A. 1947, §§ 62-2704 -- 62-2706.

(a) Real or personal property belonging to an estate may be sold, mortgaged, leased, or exchanged under court order when necessary for any of the following purposes: (1) For the payment of claims; (2) For the payment of a legacy given by the will of the decedent; (3) For the preservation or protection of assets of the estate; (4) For making distribution of the estate or any part thereof; or (5) For any other purpose in the best interest of the estate.

(1) For the payment of claims;

(2) For the payment of a legacy given by the will of the decedent;

(3) For the preservation or protection of assets of the estate;

(4) For making distribution of the estate or any part thereof; or

(5) For any other purpose in the best interest of the estate.

(b) In the event the selection of property of the estate to be sold for any of the purposes enumerated in subsection (a) of this section results in a discrimination against the distributees of the property ordered sold, the court, in the distribution of the estate, shall order contribution to be made between the respective distributees in such manner as to equitably distribute the burden of payment of claims and to avoid an infringement of the substantive rights of the distributees of the estate.

(c) Real or personal property specifically devised or bequeathed shall not be sold for the purpose of the payment of claims if other assets of the estate are available.

(d) An order authorizing a personal representative to sell, mortgage, or lease real or personal property for the payment of obligations of the estate shall not be granted if any of the persons interested in the estate shall execute and file in the court a bond in a sum and with sureties as the court may approve, conditioned as the court may direct, to preserve the rights and equities of all interested persons, within such time as the court shall direct. An action may be maintained on the bond by the personal representative on behalf of any interested person who is prejudiced by breach of any obligation of the bond.

(e) (1) Upon the petition of a creditor or other interested person, the court shall require the personal representative to show cause why he or she should not proceed to sell, mortgage, or lease specific property of the estate for a purpose enumerated in subsection (a) of this section. (2) If, after a hearing, the court finds it to be advantageous to the estate or necessary for the protection of the rights of interested persons, the court shall order the personal representative to proceed with the sale, mortgage, or lease of the property.

(1) Upon the petition of a creditor or other interested person, the court shall require the personal representative to show cause why he or she should not proceed to sell, mortgage, or lease specific property of the estate for a purpose enumerated in subsection (a) of this section.

(2) If, after a hearing, the court finds it to be advantageous to the estate or necessary for the protection of the rights of interested persons, the court shall order the personal representative to proceed with the sale, mortgage, or lease of the property.

Acts 1949, No. 140, §§ 127-129; A.S.A. 1947, §§ 62-2704 -- 62-2706.
Ark. Code Ann. § 28-12-110 — AR Code / Title 28 / Chapter 12 / Section 28-12-110
[Repealed]
Status: repealed

Repealed by Act 2023, No. 582,§ 2, eff. 8/1/2023. Acts 1981, No. 660, § 10; A.S.A. 1947, § 61-410.

Repealed by Act 2023, No. 582,§ 2, eff. 8/1/2023.

Acts 1981, No. 660, § 10; A.S.A. 1947, § 61-410.
Ark. Code Ann. § 28-11-102 — AR Code / Title 28 / Chapter 11 / Subchapter 1 / Section 28-11-102
Descent of land upon death of spouse having dower or curtesy interest
Status: in_force

At the death of any surviving spouse who has dower or curtesy for life in land, the property shall descend in accordance with the will of the first deceased spouse or, if the first spouse died intestate, then to descend in accordance with the law for the distribution of intestates' estates. Rev. Stat., ch. 52, § 22; C. & M. Dig., § 3537; Pope's Dig., § 4423; Acts 1981, No. 714, § 39; A.S.A. 1947, § 61-227.

At the death of any surviving spouse who has dower or curtesy for life in land, the property shall descend in accordance with the will of the first deceased spouse or, if the first spouse died intestate, then to descend in accordance with the law for the distribution of intestates' estates.

Rev. Stat., ch. 52, § 22; C. & M. Dig., § 3537; Pope's Dig., § 4423; Acts 1981, No. 714, § 39; A.S.A. 1947, § 61-227.
Ark. Code Ann. § 28-72-204 — AR Code / Title 28 / Chapter 72 / Subchapter 2 / Section 28-72-204
Lease of property to trustee
Status: in_force

The officers or any other governmental or municipal authorities having the custody, management, or control of any property of any beneficiary of such a trust, at the time of, or after, creation of the trust, may lease any such property as shall be needful in the execution of the trust to the trustee or trustees to implement the performance of the trust purposes for the benefit of the beneficiary. Acts 1961, No. 459, § 3; A.S.A. 1947, § 58-403.

The officers or any other governmental or municipal authorities having the custody, management, or control of any property of any beneficiary of such a trust, at the time of, or after, creation of the trust, may lease any such property as shall be needful in the execution of the trust to the trustee or trustees to implement the performance of the trust purposes for the benefit of the beneficiary.

Acts 1961, No. 459, § 3; A.S.A. 1947, § 58-403.
Ark. Code Ann. § 28-65-323 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-323
Administration of deceased ward's estate
Status: in_force

(a) Upon the death of a ward, the guardian of his or her estate is authorized, as such, subject to the direction of the court, to administer the estate of the deceased ward after further letters are issued to him or her, after a hearing, pursuant to a petition for letters, testamentary or of administration, which has been filed not later than forty (40) days after the death of the ward, subject, however, to the provisions of § 28-40-116 . (b) In such a case, the guardian shall file an account of his or her administration of the ward's estate up to the date of the death of the ward and shall cause a notice of the filing of the account to be published combined with a notice to creditors of the deceased ward. (c) Proceedings for the presentation, allowance, and payment of claims against the estate of the deceased ward shall be governed by the laws relating to claims against decedents' estates, with the guardian serving as personal representative. (d) Liability on the guardian's bond shall continue and shall apply to the complete administration of the estate of the deceased ward by the guardian. (e) If letters, testamentary or of administration, are granted to someone other than the guardian upon a petition filed within forty (40) days after the death of the ward, the authority of the guardian to administer the ward's estate shall terminate upon the appointment and qualification of the personal representative, and the guardian shall deliver to the personal representative the assets of the ward's estate remaining in the hands of the guardian. (f) The probate clerk of the circuit court is entitled to additional fees, not to exceed one hundred dollars ($100), to cover the initiation of the administration of the ward's estate and, if so initiated, shall direct the personal representative to pay them. Acts 1985, No. 940, § 48; A.S.A. 1947, § 57-867; Acts 1991, No. 957, § 1; 1997, No. 513, § 1.

(a) Upon the death of a ward, the guardian of his or her estate is authorized, as such, subject to the direction of the court, to administer the estate of the deceased ward after further letters are issued to him or her, after a hearing, pursuant to a petition for letters, testamentary or of administration, which has been filed not later than forty (40) days after the death of the ward, subject, however, to the provisions of § 28-40-116 .

(b) In such a case, the guardian shall file an account of his or her administration of the ward's estate up to the date of the death of the ward and shall cause a notice of the filing of the account to be published combined with a notice to creditors of the deceased ward.

(c) Proceedings for the presentation, allowance, and payment of claims against the estate of the deceased ward shall be governed by the laws relating to claims against decedents' estates, with the guardian serving as personal representative.

(d) Liability on the guardian's bond shall continue and shall apply to the complete administration of the estate of the deceased ward by the guardian.

(e) If letters, testamentary or of administration, are granted to someone other than the guardian upon a petition filed within forty (40) days after the death of the ward, the authority of the guardian to administer the ward's estate shall terminate upon the appointment and qualification of the personal representative, and the guardian shall deliver to the personal representative the assets of the ward's estate remaining in the hands of the guardian.

(f) The probate clerk of the circuit court is entitled to additional fees, not to exceed one hundred dollars ($100), to cover the initiation of the administration of the ward's estate and, if so initiated, shall direct the personal representative to pay them.

Acts 1985, No. 940, § 48; A.S.A. 1947, § 57-867; Acts 1991, No. 957, § 1; 1997, No. 513, § 1.
Ark. Code Ann. § 28-65-303 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-303
Care, treatment, and confinement of ward
Status: in_force

(a) (1) If the ward is incapacitated for reasons other than minority and has not been committed to the state hospital as otherwise provided by law, the court, upon petition of the guardian of the person or other interested person and after such notice as the court shall direct, including notice to the guardian of the person if he or she is not the petitioner, may authorize or direct the guardian of the person to take appropriate action for the commitment of the ward to the state hospital or, while retaining control over and responsibility for the care of the person of the ward, to place the ward in some other suitable institution for treatment, care, or safekeeping. (2) Upon petition of the guardian or other interested person, after a hearing of which the guardian of the person and such other persons as the court may direct shall have notice, the court, for good cause shown, may modify, amend, or revoke such an order. (b) If the condition of the ward is such as to endanger the person or property of himself or herself or others, the guardian, in an emergency, may temporarily confine the ward in some suitable place or may deliver him or her into the custody of the sheriff for safekeeping in the county jail until such time as the court may hear and act upon a petition, which shall be promptly filed by the guardian, with reference to the commitment of the ward to the state hospital or for other appropriate provision for his or her treatment, care, or safekeeping. Acts 1985, No. 940, § 26; A.S.A. 1947, § 57-845.

(a) (1) If the ward is incapacitated for reasons other than minority and has not been committed to the state hospital as otherwise provided by law, the court, upon petition of the guardian of the person or other interested person and after such notice as the court shall direct, including notice to the guardian of the person if he or she is not the petitioner, may authorize or direct the guardian of the person to take appropriate action for the commitment of the ward to the state hospital or, while retaining control over and responsibility for the care of the person of the ward, to place the ward in some other suitable institution for treatment, care, or safekeeping. (2) Upon petition of the guardian or other interested person, after a hearing of which the guardian of the person and such other persons as the court may direct shall have notice, the court, for good cause shown, may modify, amend, or revoke such an order.

(1) If the ward is incapacitated for reasons other than minority and has not been committed to the state hospital as otherwise provided by law, the court, upon petition of the guardian of the person or other interested person and after such notice as the court shall direct, including notice to the guardian of the person if he or she is not the petitioner, may authorize or direct the guardian of the person to take appropriate action for the commitment of the ward to the state hospital or, while retaining control over and responsibility for the care of the person of the ward, to place the ward in some other suitable institution for treatment, care, or safekeeping.

(2) Upon petition of the guardian or other interested person, after a hearing of which the guardian of the person and such other persons as the court may direct shall have notice, the court, for good cause shown, may modify, amend, or revoke such an order.

(b) If the condition of the ward is such as to endanger the person or property of himself or herself or others, the guardian, in an emergency, may temporarily confine the ward in some suitable place or may deliver him or her into the custody of the sheriff for safekeeping in the county jail until such time as the court may hear and act upon a petition, which shall be promptly filed by the guardian, with reference to the commitment of the ward to the state hospital or for other appropriate provision for his or her treatment, care, or safekeeping.

Acts 1985, No. 940, § 26; A.S.A. 1947, § 57-845.
Ark. Code Ann. § 28-48-302 — AR Code / Title 28 / Chapter 48 / Subchapter 3 / Section 28-48-302
Inventory and administration
Status: in_force

The public administrator shall make an inventory of all property of a decedent taken into his or her custody and administer and account for it according to the provisions of the Probate Code for the administration of estates of decedents. Acts 1949, No. 140, § 175; A.S.A. 1947, § 62-3002.

The public administrator shall make an inventory of all property of a decedent taken into his or her custody and administer and account for it according to the provisions of the Probate Code for the administration of estates of decedents.

Acts 1949, No. 140, § 175; A.S.A. 1947, § 62-3002.
Ark. Code Ann. § 28-39-301 — AR Code / Title 28 / Chapter 39 / Subchapter 3 / Section 28-39-301
Assignment by heir - Acceptance
Status: in_force

(a) It shall be the duty of the heir at law of any estate of which the surviving spouse is entitled to dower or curtesy to lay off and assign the dower or curtesy as soon as practicable after the death of the deceased spouse. If the heirs to any estate are minors, they shall act, in the assignment of dower or curtesy, by their guardians. (b) If the dower or curtesy assigned by the heir at law is accepted by the surviving spouse, the heir at law shall make a statement of the assignment, specifying what lands have been assigned, and the acceptance of the surviving spouse shall be endorsed thereon. (c) The statements and specification of dower or curtesy, and acceptance thereof, shall be proved or acknowledged by both parties and filed with and recorded by the probate clerk of the circuit court, which will then be a sufficient assignment of dower or curtesy and shall bar any further demand for dower or curtesy in the property specified in the statement. Rev. Stat., ch. 52, §§ 29-31; C. & M. Dig., §§ 3544-3546; Pope's Dig., §§ 4430-4432; Acts 1981, No. 714, §§ 49-51; A.S.A. 1947, §§ 62-701 -- 62-703.

(a) It shall be the duty of the heir at law of any estate of which the surviving spouse is entitled to dower or curtesy to lay off and assign the dower or curtesy as soon as practicable after the death of the deceased spouse. If the heirs to any estate are minors, they shall act, in the assignment of dower or curtesy, by their guardians.

(b) If the dower or curtesy assigned by the heir at law is accepted by the surviving spouse, the heir at law shall make a statement of the assignment, specifying what lands have been assigned, and the acceptance of the surviving spouse shall be endorsed thereon.

(c) The statements and specification of dower or curtesy, and acceptance thereof, shall be proved or acknowledged by both parties and filed with and recorded by the probate clerk of the circuit court, which will then be a sufficient assignment of dower or curtesy and shall bar any further demand for dower or curtesy in the property specified in the statement.

Rev. Stat., ch. 52, §§ 29-31; C. & M. Dig., §§ 3544-3546; Pope's Dig., §§ 4430-4432; Acts 1981, No. 714, §§ 49-51; A.S.A. 1947, §§ 62-701 -- 62-703.
Ark. Code Ann. § 28-65-216 — AR Code / Title 28 / Chapter 65 / Subchapter 2 / Section 28-65-216
Issuance of letters
Status: in_force

(a) When a guardian has given such bond as may be required and the bond has been approved, as provided by § 28-48-205 , or if no bond is required and the guardian has filed his or her written acceptance of his or her appointment, letters of guardianship under the seal of the court shall be issued to him or her. (b) The letters, when so issued, until revoked or cancelled by the court, shall protect persons who, in good faith, act in reliance thereon. Acts 1985, No. 940, § 19; A.S.A. 1947, § 57-838.

(a) When a guardian has given such bond as may be required and the bond has been approved, as provided by § 28-48-205 , or if no bond is required and the guardian has filed his or her written acceptance of his or her appointment, letters of guardianship under the seal of the court shall be issued to him or her.

(b) The letters, when so issued, until revoked or cancelled by the court, shall protect persons who, in good faith, act in reliance thereon.

Acts 1985, No. 940, § 19; A.S.A. 1947, § 57-838.
Ark. Code Ann. § 28-50-109 — AR Code / Title 28 / Chapter 50 / Section 28-50-109
Secured claims
Status: in_force

(a) If a claim is secured, in whole or in part, the security shall be described in the proof of claim. (b) Written instruments evidencing the security shall be subject to the provisions of § 28-50-103 relative to written instruments upon which a claim is founded. However, if the instrument is recorded in any public record, a duly authenticated copy may be exhibited in lieu of the original. (c) Subject to the requirements of subsections (a) and (b) of this section, a secured claim may be presented, filed, and allowed in the same manner and subject to the same conditions as an unsecured claim. (d) An order allowing a secured claim shall identify it as such and shall describe the security, either in detail or by reference to a recorded instrument in which a detailed description may be found. (e) Payment of a secured claim, after allowance, shall be made only as follows: (1) If the creditor surrenders all of his or her security to the personal representative, then upon the basis of the full amount thereof, as an unsecured claim; (2) If the creditor, proceeding with due diligence and in a manner provided by law, liquidates and applies to the payment of his or her claim the proceeds of all or a part of his or her security and surrenders to the personal representative any part not so liquidated and applied, then upon the basis of the balance of the claim remaining unpaid, as an unsecured claim; (3) If the secured creditor fails to surrender his or her security as provided in subdivision (e)(1) of this section, or to initiate proceedings as provided in subdivision (e)(2) of this section, within sixty (60) days after the expiration of the period for filing claims against the estate, or within such additional time as the court by order may prescribe, or before the filing of a final settlement by the personal representative if it is filed after the expiration of the sixty-day period, he or she shall be deemed to have elected to waive his or her claim against the estate and shall have recourse only against his or her security for the payment of the debt secured thereby; (4) If the obligation constituting the basis of a secured claim which has been allowed is not due, then the court, after a hearing on a petition filed by an interested person if it is found for the best interest of the estate and not injurious to the creditors, may order an acceleration of maturity of the obligation, but only by consent of the creditor if the obligation was incurred prior to July 1, 1949, and shall determine the present value of the claim as provided in § 28-50-108 ; and (5) After allowance of a secured claim based upon an obligation which is due under the provisions of the contract or which has become due by order of the court as authorized in subdivision (e)(4) of this section, if the creditor has not proceeded as authorized in subdivision (e)(1) or (e)(2) of this section, upon petition of an interested person and after due hearing if found for the best interest of the estate or required for the protection of unsecured creditors the court may: (A) Order the property constituting the security to be sold free of the lien of the secured creditor, subject to the provisions of § 28-51-107 ; (B) Order the sale of the decedent's title to or equity of redemption in the property subject to the lien or title held by the secured creditor; or (C) Order the personal representative to abandon the property as of no value to the estate, without prejudice to dower or homestead rights or to the rights of the distributees. If the property is ordered sold free of the lien, the proceeds shall be applied first to the payment of costs incident to the sale, and next to the payment of the secured claim, and the balance, if any, shall be paid to the personal representative. (f) This section shall not apply to contingent claims except as to security given by the decedent to the creditor holding the contingent claim. Acts 1949, No. 140, § 118; 1967, No. 287, § 12; A.S.A. 1947, § 62-2609.

(a) If a claim is secured, in whole or in part, the security shall be described in the proof of claim.

(b) Written instruments evidencing the security shall be subject to the provisions of § 28-50-103 relative to written instruments upon which a claim is founded. However, if the instrument is recorded in any public record, a duly authenticated copy may be exhibited in lieu of the original.

(c) Subject to the requirements of subsections (a) and (b) of this section, a secured claim may be presented, filed, and allowed in the same manner and subject to the same conditions as an unsecured claim.

(d) An order allowing a secured claim shall identify it as such and shall describe the security, either in detail or by reference to a recorded instrument in which a detailed description may be found.

(e) Payment of a secured claim, after allowance, shall be made only as follows: (1) If the creditor surrenders all of his or her security to the personal representative, then upon the basis of the full amount thereof, as an unsecured claim; (2) If the creditor, proceeding with due diligence and in a manner provided by law, liquidates and applies to the payment of his or her claim the proceeds of all or a part of his or her security and surrenders to the personal representative any part not so liquidated and applied, then upon the basis of the balance of the claim remaining unpaid, as an unsecured claim; (3) If the secured creditor fails to surrender his or her security as provided in subdivision (e)(1) of this section, or to initiate proceedings as provided in subdivision (e)(2) of this section, within sixty (60) days after the expiration of the period for filing claims against the estate, or within such additional time as the court by order may prescribe, or before the filing of a final settlement by the personal representative if it is filed after the expiration of the sixty-day period, he or she shall be deemed to have elected to waive his or her claim against the estate and shall have recourse only against his or her security for the payment of the debt secured thereby; (4) If the obligation constituting the basis of a secured claim which has been allowed is not due, then the court, after a hearing on a petition filed by an interested person if it is found for the best interest of the estate and not injurious to the creditors, may order an acceleration of maturity of the obligation, but only by consent of the creditor if the obligation was incurred prior to July 1, 1949, and shall determine the present value of the claim as provided in § 28-50-108 ; and (5) After allowance of a secured claim based upon an obligation which is due under the provisions of the contract or which has become due by order of the court as authorized in subdivision (e)(4) of this section, if the creditor has not proceeded as authorized in subdivision (e)(1) or (e)(2) of this section, upon petition of an interested person and after due hearing if found for the best interest of the estate or required for the protection of unsecured creditors the court may: (A) Order the property constituting the security to be sold free of the lien of the secured creditor, subject to the provisions of § 28-51-107 ; (B) Order the sale of the decedent's title to or equity of redemption in the property subject to the lien or title held by the secured creditor; or (C) Order the personal representative to abandon the property as of no value to the estate, without prejudice to dower or homestead rights or to the rights of the distributees. If the property is ordered sold free of the lien, the proceeds shall be applied first to the payment of costs incident to the sale, and next to the payment of the secured claim, and the balance, if any, shall be paid to the personal representative.

(1) If the creditor surrenders all of his or her security to the personal representative, then upon the basis of the full amount thereof, as an unsecured claim;

(2) If the creditor, proceeding with due diligence and in a manner provided by law, liquidates and applies to the payment of his or her claim the proceeds of all or a part of his or her security and surrenders to the personal representative any part not so liquidated and applied, then upon the basis of the balance of the claim remaining unpaid, as an unsecured claim;

(3) If the secured creditor fails to surrender his or her security as provided in subdivision (e)(1) of this section, or to initiate proceedings as provided in subdivision (e)(2) of this section, within sixty (60) days after the expiration of the period for filing claims against the estate, or within such additional time as the court by order may prescribe, or before the filing of a final settlement by the personal representative if it is filed after the expiration of the sixty-day period, he or she shall be deemed to have elected to waive his or her claim against the estate and shall have recourse only against his or her security for the payment of the debt secured thereby;

(4) If the obligation constituting the basis of a secured claim which has been allowed is not due, then the court, after a hearing on a petition filed by an interested person if it is found for the best interest of the estate and not injurious to the creditors, may order an acceleration of maturity of the obligation, but only by consent of the creditor if the obligation was incurred prior to July 1, 1949, and shall determine the present value of the claim as provided in § 28-50-108 ; and

(5) After allowance of a secured claim based upon an obligation which is due under the provisions of the contract or which has become due by order of the court as authorized in subdivision (e)(4) of this section, if the creditor has not proceeded as authorized in subdivision (e)(1) or (e)(2) of this section, upon petition of an interested person and after due hearing if found for the best interest of the estate or required for the protection of unsecured creditors the court may: (A) Order the property constituting the security to be sold free of the lien of the secured creditor, subject to the provisions of § 28-51-107 ; (B) Order the sale of the decedent's title to or equity of redemption in the property subject to the lien or title held by the secured creditor; or (C) Order the personal representative to abandon the property as of no value to the estate, without prejudice to dower or homestead rights or to the rights of the distributees. If the property is ordered sold free of the lien, the proceeds shall be applied first to the payment of costs incident to the sale, and next to the payment of the secured claim, and the balance, if any, shall be paid to the personal representative.

(A) Order the property constituting the security to be sold free of the lien of the secured creditor, subject to the provisions of § 28-51-107 ;

(B) Order the sale of the decedent's title to or equity of redemption in the property subject to the lien or title held by the secured creditor; or

(C) Order the personal representative to abandon the property as of no value to the estate, without prejudice to dower or homestead rights or to the rights of the distributees. If the property is ordered sold free of the lien, the proceeds shall be applied first to the payment of costs incident to the sale, and next to the payment of the secured claim, and the balance, if any, shall be paid to the personal representative.

(f) This section shall not apply to contingent claims except as to security given by the decedent to the creditor holding the contingent claim.

Acts 1949, No. 140, § 118; 1967, No. 287, § 12; A.S.A. 1947, § 62-2609.
Ark. Code Ann. § 28-65-202 — AR Code / Title 28 / Chapter 65 / Subchapter 2 / Section 28-65-202
Venue
Status: in_force

(a) The venue for the appointment of a guardian shall be: (1) In the county of this state which is the domicile of the incapacitated person; (2) If the incapacitated person is not domiciled in this state, but resides in this state, then in the county of his or her residence; or (3) If the incapacitated person is neither domiciled nor resides in this state, then in the county in this state in which his or her property, or the greater part of it in value, is situated. (b) (1) If proceedings are commenced in more than one (1) county, they shall be stayed, except in the county where first commenced, until final determination of venue by the circuit court of the county where first commenced. If the proper venue is finally determined to be in another county, the court shall transmit the original file to the proper county. (2) The proceeding shall be deemed commenced by the filing of a petition, and the proceeding first legally commenced to appoint a guardian of the estate, or of the person and the estate, shall extend to all of the property of the incapacitated person in this state. (c) (1) If it appears to the court at any time before the termination of the guardianship that the proceeding was commenced in a county of improper venue, the court shall order the proceeding transferred to another circuit court. (2) If it appears that the residence of the ward or of the guardian has been changed to another county or, in case of guardianship of the estate, that a transfer would be for the best interest of the ward and his or her estate, then the court in its discretion may order the proceedings transferred to another circuit court. (3) However, in case of any transfer of proceedings, all pertinent papers, files, and certified copies of any court orders shall be transferred to the receiving court. (4) In case of transfer, the receiving court shall complete the proceedings as if originally commenced in it. Acts 1985, No. 940, § 7; A.S.A. 1947, § 57-826.

(a) The venue for the appointment of a guardian shall be: (1) In the county of this state which is the domicile of the incapacitated person; (2) If the incapacitated person is not domiciled in this state, but resides in this state, then in the county of his or her residence; or (3) If the incapacitated person is neither domiciled nor resides in this state, then in the county in this state in which his or her property, or the greater part of it in value, is situated.

(1) In the county of this state which is the domicile of the incapacitated person;

(2) If the incapacitated person is not domiciled in this state, but resides in this state, then in the county of his or her residence; or

(3) If the incapacitated person is neither domiciled nor resides in this state, then in the county in this state in which his or her property, or the greater part of it in value, is situated.

(b) (1) If proceedings are commenced in more than one (1) county, they shall be stayed, except in the county where first commenced, until final determination of venue by the circuit court of the county where first commenced. If the proper venue is finally determined to be in another county, the court shall transmit the original file to the proper county. (2) The proceeding shall be deemed commenced by the filing of a petition, and the proceeding first legally commenced to appoint a guardian of the estate, or of the person and the estate, shall extend to all of the property of the incapacitated person in this state.

(1) If proceedings are commenced in more than one (1) county, they shall be stayed, except in the county where first commenced, until final determination of venue by the circuit court of the county where first commenced. If the proper venue is finally determined to be in another county, the court shall transmit the original file to the proper county.

(2) The proceeding shall be deemed commenced by the filing of a petition, and the proceeding first legally commenced to appoint a guardian of the estate, or of the person and the estate, shall extend to all of the property of the incapacitated person in this state.

(c) (1) If it appears to the court at any time before the termination of the guardianship that the proceeding was commenced in a county of improper venue, the court shall order the proceeding transferred to another circuit court. (2) If it appears that the residence of the ward or of the guardian has been changed to another county or, in case of guardianship of the estate, that a transfer would be for the best interest of the ward and his or her estate, then the court in its discretion may order the proceedings transferred to another circuit court. (3) However, in case of any transfer of proceedings, all pertinent papers, files, and certified copies of any court orders shall be transferred to the receiving court. (4) In case of transfer, the receiving court shall complete the proceedings as if originally commenced in it.

(1) If it appears to the court at any time before the termination of the guardianship that the proceeding was commenced in a county of improper venue, the court shall order the proceeding transferred to another circuit court.

(2) If it appears that the residence of the ward or of the guardian has been changed to another county or, in case of guardianship of the estate, that a transfer would be for the best interest of the ward and his or her estate, then the court in its discretion may order the proceedings transferred to another circuit court.

(3) However, in case of any transfer of proceedings, all pertinent papers, files, and certified copies of any court orders shall be transferred to the receiving court.

(4) In case of transfer, the receiving court shall complete the proceedings as if originally commenced in it.

Acts 1985, No. 940, § 7; A.S.A. 1947, § 57-826.
Ark. Code Ann. § 28-39-104 — AR Code / Title 28 / Chapter 39 / Subchapter 1 / Section 28-39-104
Allowance paid surviving spouse out of rent until apportionment of curtesy or dower
Status: in_force

Until curtesy or dower is apportioned, the court shall order such sums to be paid to the surviving spouse out of the rent of the real estate as shall be in proportion to his or her interest in the real estate. Rev. Stat., ch. 4, § 139; C. & M. Dig., § 89; Pope's Dig., § 89; Acts 1981, No. 714, § 71; A.S.A. 1947, § 62-2501.3.

Until curtesy or dower is apportioned, the court shall order such sums to be paid to the surviving spouse out of the rent of the real estate as shall be in proportion to his or her interest in the real estate.

Rev. Stat., ch. 4, § 139; C. & M. Dig., § 89; Pope's Dig., § 89; Acts 1981, No. 714, § 71; A.S.A. 1947, § 62-2501.3.
Ark. Code Ann. § 28-39-302 — AR Code / Title 28 / Chapter 39 / Subchapter 3 / Section 28-39-302
Assignment by heir - Grant of severance rights required
Status: in_force

(a) The heirs in any estate cannot assign or secure an assignment of dower or curtesy in lands in this state unless and until the heirs of the estate comply with the provisions set out in subsections (b) and (c) of this section. (b) Before assignment of dower or curtesy can be made by the heirs as against a surviving spouse, the heirs shall first execute an agreement, or the agreement of a guardian shall be approved by the court, by which agreement the surviving spouse is given permission to sell timber on lands set aside to the surviving spouse under selective cutting practices as used or adopted by general practice in the area where the land is situated. (c) In addition to rights granted in subsection (b) of this section, the heirs shall grant, by proper agreement, to the surviving spouse, the right to execute good, valid, and binding oil and gas leases covering lands set aside to the surviving spouse by which the surviving spouse shall receive the bonus money for any lease and receive the delay rentals so long as they are payable, or so long as the surviving spouse lives. (d) Should there be production of oil or gas under any lease executed by the surviving spouse, he or she shall be entitled to receive the royalty payments so long as the surviving spouse lives. Acts 1961, No. 189, §§ 1-4; 1981, No. 714, §§ 63-66; A.S.A. 1947, §§ 62-722 -- 62-725.

(a) The heirs in any estate cannot assign or secure an assignment of dower or curtesy in lands in this state unless and until the heirs of the estate comply with the provisions set out in subsections (b) and (c) of this section.

(b) Before assignment of dower or curtesy can be made by the heirs as against a surviving spouse, the heirs shall first execute an agreement, or the agreement of a guardian shall be approved by the court, by which agreement the surviving spouse is given permission to sell timber on lands set aside to the surviving spouse under selective cutting practices as used or adopted by general practice in the area where the land is situated.

(c) In addition to rights granted in subsection (b) of this section, the heirs shall grant, by proper agreement, to the surviving spouse, the right to execute good, valid, and binding oil and gas leases covering lands set aside to the surviving spouse by which the surviving spouse shall receive the bonus money for any lease and receive the delay rentals so long as they are payable, or so long as the surviving spouse lives.

(d) Should there be production of oil or gas under any lease executed by the surviving spouse, he or she shall be entitled to receive the royalty payments so long as the surviving spouse lives.

Acts 1961, No. 189, §§ 1-4; 1981, No. 714, §§ 63-66; A.S.A. 1947, §§ 62-722 -- 62-725.
Ark. Code Ann. § 28-49-101 — AR Code / Title 28 / Chapter 49 / Section 28-49-101
Possession by personal representative
Status: in_force

(a) A personal representative shall have the right to, and shall, take possession of all of the personal property of the estate of the decedent, subject to the rights of dower and curtesy and statutory allowances of the surviving spouse or minor children, if any. (b) (1) Real property shall be an asset in the hands of the personal representative when so directed by the will, if any, or when the court finds that the real property should be sold, mortgaged, leased, or exchanged for any purpose enumerated in § 28-51-103 , irrespective of whether any personal property of the estate, other than money, is available for such a purpose. (2) When real property has become an asset in the hands of the personal representative as provided in this section or when and as long as the court finds it necessary for the preservation of the property, for protecting the rights and interests of persons having interests therein, or for the benefit of the estate, the personal representative may collect rents and earnings from the property, pay taxes and special assessments thereon, make necessary repairs thereon, maintain the property in tenantable condition, preserve it against deterioration, protect it by insurance, and maintain or defend an action for the possession of the property, or to determine or protect the title until the real property is sold, mortgaged, leased, exchanged, or is delivered to the distributees thereof, or until the estate is settled. (c) Unless sold, mortgaged, leased, or exchanged by the personal representative pursuant to other provisions of the Probate Code, the real property shall not be distributable by the personal representative. Acts 1949, No. 140, § 94; 1961, No. 424, § 1; A.S.A. 1947, § 62-2401.

(a) A personal representative shall have the right to, and shall, take possession of all of the personal property of the estate of the decedent, subject to the rights of dower and curtesy and statutory allowances of the surviving spouse or minor children, if any.

(b) (1) Real property shall be an asset in the hands of the personal representative when so directed by the will, if any, or when the court finds that the real property should be sold, mortgaged, leased, or exchanged for any purpose enumerated in § 28-51-103 , irrespective of whether any personal property of the estate, other than money, is available for such a purpose. (2) When real property has become an asset in the hands of the personal representative as provided in this section or when and as long as the court finds it necessary for the preservation of the property, for protecting the rights and interests of persons having interests therein, or for the benefit of the estate, the personal representative may collect rents and earnings from the property, pay taxes and special assessments thereon, make necessary repairs thereon, maintain the property in tenantable condition, preserve it against deterioration, protect it by insurance, and maintain or defend an action for the possession of the property, or to determine or protect the title until the real property is sold, mortgaged, leased, exchanged, or is delivered to the distributees thereof, or until the estate is settled.

(1) Real property shall be an asset in the hands of the personal representative when so directed by the will, if any, or when the court finds that the real property should be sold, mortgaged, leased, or exchanged for any purpose enumerated in § 28-51-103 , irrespective of whether any personal property of the estate, other than money, is available for such a purpose.

(2) When real property has become an asset in the hands of the personal representative as provided in this section or when and as long as the court finds it necessary for the preservation of the property, for protecting the rights and interests of persons having interests therein, or for the benefit of the estate, the personal representative may collect rents and earnings from the property, pay taxes and special assessments thereon, make necessary repairs thereon, maintain the property in tenantable condition, preserve it against deterioration, protect it by insurance, and maintain or defend an action for the possession of the property, or to determine or protect the title until the real property is sold, mortgaged, leased, exchanged, or is delivered to the distributees thereof, or until the estate is settled.

(c) Unless sold, mortgaged, leased, or exchanged by the personal representative pursuant to other provisions of the Probate Code, the real property shall not be distributable by the personal representative.

Acts 1949, No. 140, § 94; 1961, No. 424, § 1; A.S.A. 1947, § 62-2401.
Ark. Code Ann. § 28-73-1002 — AR Code / Title 28 / Chapter 73 / Subchapter 10 / Section 28-73-1002
Damages for breach of trust
Status: in_force

(a) A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of: (1) the amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (2) the profit the trustee made by reason of the breach. (b) Except as otherwise provided in this subsection, if more than one (1) trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who received a benefit from the breach of trust is not entitled to contribution from another trustee to the extent of the benefit received. Acts 2005, No. 1031, § 1.

(a) A trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of: (1) the amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or (2) the profit the trustee made by reason of the breach.

(1) the amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or

(2) the profit the trustee made by reason of the breach.

(b) Except as otherwise provided in this subsection, if more than one (1) trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who received a benefit from the breach of trust is not entitled to contribution from another trustee to the extent of the benefit received.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-10-212 — AR Code / Title 28 / Chapter 10 / Subchapter 2 / Section 28-10-212
Effective date
Status: in_force

(a) This subchapter takes effect January 1, 2006. (b) On the effective date of this subchapter: (1) an act done before the effective date in any proceeding and any accrued right is not impaired by this subchapter. If a right is acquired, extinguished, or barred upon the expiration of a prescribed period of time that has commenced to run by the provisions of any statute before the effective date, the provisions remain in force with respect to that right; and (2) any rule of construction or presumption provided in this subchapter applies to instruments executed and multiple-party accounts opened before the effective date unless there is a clear indication of a contrary intent. Acts 2005, No. 74, § 1.

(a) This subchapter takes effect January 1, 2006.

(b) On the effective date of this subchapter: (1) an act done before the effective date in any proceeding and any accrued right is not impaired by this subchapter. If a right is acquired, extinguished, or barred upon the expiration of a prescribed period of time that has commenced to run by the provisions of any statute before the effective date, the provisions remain in force with respect to that right; and (2) any rule of construction or presumption provided in this subchapter applies to instruments executed and multiple-party accounts opened before the effective date unless there is a clear indication of a contrary intent.

(1) an act done before the effective date in any proceeding and any accrued right is not impaired by this subchapter. If a right is acquired, extinguished, or barred upon the expiration of a prescribed period of time that has commenced to run by the provisions of any statute before the effective date, the provisions remain in force with respect to that right; and

(2) any rule of construction or presumption provided in this subchapter applies to instruments executed and multiple-party accounts opened before the effective date unless there is a clear indication of a contrary intent.

Acts 2005, No. 74, § 1.
Ark. Code Ann. § 28-2-218 — AR Code / Title 28 / Chapter 2 / Subchapter 2 / Section 28-2-218
Uniformity of application and construction
Status: in_force

In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it. Acts 2003, No. 610, § 18.

In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it.

Acts 2003, No. 610, § 18.
Ark. Code Ann. § 28-73-103 — AR Code / Title 28 / Chapter 73 / Subchapter 1 / Section 28-73-103
Definitions
Status: in_force

In this chapter: (1) "Action", with respect to an act of a trustee, includes a failure to act. (2) "Ascertainable standard" means a standard relating to an individual's health, education, support, or maintenance within the meaning of 26 U.S.C. § 2041(b)(1)(A) or 26 U.S.C. § 2514(c)(1) as they existed on January 1, 2023. (3) "Beneficiary" means a person that: (A) has a present or future beneficial interest in a trust, vested or contingent; or (B) in a capacity other than that of trustee, holds a power of appointment over trust property. (4) "Charitable trust" means a trust, or portion of a trust, created for a charitable purpose described in § 28-73-405(a) . (5) "Community property" means all personal property, wherever situated, which was acquired as or became, and remained, community property under the laws of another jurisdiction, and all real property situated in another jurisdiction which is community property under the laws of that jurisdiction. (6) "Conservator" means a person appointed by the court pursuant to § 28-67-101 et seq. to administer the estate of an individual who by reason of advanced age or physical disability is unable to manage his or her property. (7) "Environmental law" means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment. (8) "Guardian" means a person appointed by a court pursuant to § 28-65-101 et seq. to have the care and custody of the estate of an incapacitated person. (9) "Interests of the beneficiaries" means the beneficial interests provided in the terms of the trust. (10) "Jurisdiction", with respect to a geographic area, includes a state or country. (11) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. (12) "Power of withdrawal" means a presently exercisable general power of appointment other than a power exercisable by a trustee which is limited by an ascertainable standard, or which is exercisable by another person only upon consent of the trustee or a person holding an adverse interest. (13) "Property" means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. (14) "Qualified beneficiary" means a living beneficiary who on the date the beneficiary's qualification is determined: (A) is a distributee or permissible distributee of trust income or principal; (B) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in subdivision (14)(A) terminated on that date, but the termination of those interests would not cause the trust to terminate; or (C) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date. (15) "Revocable", as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest. (16) "Settlor" means a person, including a testator, who creates, or contributes property to, a trust. If more than one (1) person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution, except to the extent another person has the power to revoke or withdraw that portion. (17) "Spendthrift provision" means a term of a trust which restrains both voluntary and involuntary transfer of a beneficiary's interest. (18) "State" means a State of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band recognized by federal law or formally acknowledged by a state. (19) "Terms of a trust" means: (A) except as otherwise provided in § 28-76-102(8)(B) , the manifestation of the settlor's intent regarding a trust's provisions as: (i) expressed in the trust instrument; or (ii) established by other evidence that would be admissible in a judicial proceeding; or (B) the trust's provisions as established, determined, or amended by: (i) a trustee or trust director in accordance with applicable law; (ii) court order; or (iii) a nonjudicial settlement agreement under § 28-73-111 . (20) "Trust instrument" means an instrument executed by the settlor that contains terms of the trust, including any amendments thereto. (21) "Trustee" includes an original, additional, successor trustee, and a cotrustee. Amended by Act 2023, No. 293,§ 1, eff. 8/1/2023. Amended by Act 2019, No. 1021,§ 1, eff. 1/1/2020. Acts 2005, No. 1031, § 1.

In this chapter:

(1) "Action", with respect to an act of a trustee, includes a failure to act.

(2) "Ascertainable standard" means a standard relating to an individual's health, education, support, or maintenance within the meaning of 26 U.S.C. § 2041(b)(1)(A) or 26 U.S.C. § 2514(c)(1) as they existed on January 1, 2023.

(3) "Beneficiary" means a person that: (A) has a present or future beneficial interest in a trust, vested or contingent; or (B) in a capacity other than that of trustee, holds a power of appointment over trust property.

(A) has a present or future beneficial interest in a trust, vested or contingent; or

(B) in a capacity other than that of trustee, holds a power of appointment over trust property.

(4) "Charitable trust" means a trust, or portion of a trust, created for a charitable purpose described in § 28-73-405(a) .

(5) "Community property" means all personal property, wherever situated, which was acquired as or became, and remained, community property under the laws of another jurisdiction, and all real property situated in another jurisdiction which is community property under the laws of that jurisdiction.

(6) "Conservator" means a person appointed by the court pursuant to § 28-67-101 et seq. to administer the estate of an individual who by reason of advanced age or physical disability is unable to manage his or her property.

(7) "Environmental law" means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment.

(8) "Guardian" means a person appointed by a court pursuant to § 28-65-101 et seq. to have the care and custody of the estate of an incapacitated person.

(9) "Interests of the beneficiaries" means the beneficial interests provided in the terms of the trust.

(10) "Jurisdiction", with respect to a geographic area, includes a state or country.

(11) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity.

(12) "Power of withdrawal" means a presently exercisable general power of appointment other than a power exercisable by a trustee which is limited by an ascertainable standard, or which is exercisable by another person only upon consent of the trustee or a person holding an adverse interest.

(13) "Property" means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein.

(14) "Qualified beneficiary" means a living beneficiary who on the date the beneficiary's qualification is determined: (A) is a distributee or permissible distributee of trust income or principal; (B) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in subdivision (14)(A) terminated on that date, but the termination of those interests would not cause the trust to terminate; or (C) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

(A) is a distributee or permissible distributee of trust income or principal;

(B) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in subdivision (14)(A) terminated on that date, but the termination of those interests would not cause the trust to terminate; or

(C) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

(15) "Revocable", as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest.

(16) "Settlor" means a person, including a testator, who creates, or contributes property to, a trust. If more than one (1) person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution, except to the extent another person has the power to revoke or withdraw that portion.

(17) "Spendthrift provision" means a term of a trust which restrains both voluntary and involuntary transfer of a beneficiary's interest.

(18) "State" means a State of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band recognized by federal law or formally acknowledged by a state.

(19) "Terms of a trust" means: (A) except as otherwise provided in § 28-76-102(8)(B) , the manifestation of the settlor's intent regarding a trust's provisions as: (i) expressed in the trust instrument; or (ii) established by other evidence that would be admissible in a judicial proceeding; or (B) the trust's provisions as established, determined, or amended by: (i) a trustee or trust director in accordance with applicable law; (ii) court order; or (iii) a nonjudicial settlement agreement under § 28-73-111 .

(A) except as otherwise provided in § 28-76-102(8)(B) , the manifestation of the settlor's intent regarding a trust's provisions as: (i) expressed in the trust instrument; or (ii) established by other evidence that would be admissible in a judicial proceeding; or

(i) expressed in the trust instrument; or

(ii) established by other evidence that would be admissible in a judicial proceeding; or

(B) the trust's provisions as established, determined, or amended by: (i) a trustee or trust director in accordance with applicable law; (ii) court order; or (iii) a nonjudicial settlement agreement under § 28-73-111 .

(i) a trustee or trust director in accordance with applicable law;

(ii) court order; or

(iii) a nonjudicial settlement agreement under § 28-73-111 .

(20) "Trust instrument" means an instrument executed by the settlor that contains terms of the trust, including any amendments thereto.

(21) "Trustee" includes an original, additional, successor trustee, and a cotrustee.

Amended by Act 2023, No. 293,§ 1, eff. 8/1/2023.

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

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-25-107 — AR Code / Title 28 / Chapter 25 / Section 28-25-107
Incorporation of writing by reference
Status: in_force

(a) Any writing in existence when a will is executed may be incorporated by reference if the language of the will manifests this intent and describes the writing sufficiently to permit its identification. (b) (1) Whether or not the provisions relating to holographic wills apply, a will may refer to a written statement or list to dispose of items of tangible personal property not otherwise specifically disposed of by the will, other than money, evidences of indebtedness, documents of title, securities, and property used in trade or business. (2) To be admissible under this subsection as evidence of the intended disposition, the writing must either be in the handwriting of the testator or be signed by him or her and must describe the items and devisees with reasonable certainty. (3) The writing may be: (A) Referred to as one to be in existence at the time of the testator's death; (B) Prepared before or after the execution of the will; (C) Altered by the testator after its preparation; and (D) A writing which has no significance apart from its effect upon the dispositions made by the will. Acts 1979, No. 814, §§ 3, 4; A.S.A. 1947, §§ 60-418, 60-419.

(a) Any writing in existence when a will is executed may be incorporated by reference if the language of the will manifests this intent and describes the writing sufficiently to permit its identification.

(b) (1) Whether or not the provisions relating to holographic wills apply, a will may refer to a written statement or list to dispose of items of tangible personal property not otherwise specifically disposed of by the will, other than money, evidences of indebtedness, documents of title, securities, and property used in trade or business. (2) To be admissible under this subsection as evidence of the intended disposition, the writing must either be in the handwriting of the testator or be signed by him or her and must describe the items and devisees with reasonable certainty. (3) The writing may be: (A) Referred to as one to be in existence at the time of the testator's death; (B) Prepared before or after the execution of the will; (C) Altered by the testator after its preparation; and (D) A writing which has no significance apart from its effect upon the dispositions made by the will.

(1) Whether or not the provisions relating to holographic wills apply, a will may refer to a written statement or list to dispose of items of tangible personal property not otherwise specifically disposed of by the will, other than money, evidences of indebtedness, documents of title, securities, and property used in trade or business.

(2) To be admissible under this subsection as evidence of the intended disposition, the writing must either be in the handwriting of the testator or be signed by him or her and must describe the items and devisees with reasonable certainty.

(3) The writing may be: (A) Referred to as one to be in existence at the time of the testator's death; (B) Prepared before or after the execution of the will; (C) Altered by the testator after its preparation; and (D) A writing which has no significance apart from its effect upon the dispositions made by the will.

(A) Referred to as one to be in existence at the time of the testator's death;

(B) Prepared before or after the execution of the will;

(C) Altered by the testator after its preparation; and

(D) A writing which has no significance apart from its effect upon the dispositions made by the will.

Acts 1979, No. 814, §§ 3, 4; A.S.A. 1947, §§ 60-418, 60-419.
Ark. Code Ann. § 28-2-221 — AR Code / Title 28 / Chapter 2 / Subchapter 2 / Section 28-2-221
Repeals
Status: repealed

Sections 28-2-101 - 28-2-109 are repealed. Acts 2003, No. 610, § 20.

Sections 28-2-101 - 28-2-109 are repealed.

Acts 2003, No. 610, § 20.
Ark. Code Ann. § 28-54-112 — AR Code / Title 28 / Chapter 54 / Section 28-54-112
Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. Acts 2007, No. 276, § 1.

In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

Acts 2007, No. 276, § 1.
Ark. Code Ann. § 28-73-703 — AR Code / Title 28 / Chapter 73 / Subchapter 7 / Section 28-73-703
Cotrustees
Status: in_force

(a) Cotrustees who are unable to reach a unanimous decision may act by majority decision. (b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust. (c) A cotrustee must participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee. (d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust. (e) A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made. (f) Except as otherwise provided in subsection (g), a trustee who does not join in an action of another trustee is not liable for the action. (g) Each trustee shall exercise reasonable care to: (1) prevent a cotrustee from committing a serious breach of trust; and (2) compel a cotrustee to redress a serious breach of trust. (h) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust. Acts 2005, No. 1031, § 1.

(a) Cotrustees who are unable to reach a unanimous decision may act by majority decision.

(b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.

(c) A cotrustee must participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.

(d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.

(e) A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.

(f) Except as otherwise provided in subsection (g), a trustee who does not join in an action of another trustee is not liable for the action.

(g) Each trustee shall exercise reasonable care to: (1) prevent a cotrustee from committing a serious breach of trust; and (2) compel a cotrustee to redress a serious breach of trust.

(1) prevent a cotrustee from committing a serious breach of trust; and

(2) compel a cotrustee to redress a serious breach of trust.

(h) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-69-803 — AR Code / Title 28 / Chapter 69 / Subchapter 8 / Section 28-69-803
Standard of conduct in managing and investing institutional fund
Status: in_force

(a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. (b) In addition to complying with the duty of loyalty imposed by law other than this subchapter, each person responsible for managing and investing an institutional fund shall manage and invest the fund in good faith and with the care an ordinarily prudent person in a like position would exercise under similar circumstances. (c) In managing and investing an institutional fund, an institution: (1) may incur only costs that are appropriate and reasonable in relation to the assets, the purposes of the institution, and the skills available to the institution; and (2) shall make a reasonable effort to verify facts relevant to the management and investment of the fund. (d) An institution may pool two or more institutional funds for purposes of management and investment. (e) Except as otherwise provided by a gift instrument, the following rules apply: (1) In managing and investing an institutional fund, the following factors, if relevant, must be considered: (A) general economic conditions; (B) the possible effect of inflation or deflation; (C) the expected tax consequences, if any, of investment decisions or strategies; (D) the role that each investment or course of action plays within the overall investment portfolio of the fund; (E) the expected total return from income and the appreciation of investments; (F) other resources of the institution; (G) the needs of the institution and the fund to make distributions and to preserve capital; and (H) an asset's special relationship or special value, if any, to the charitable purposes of the institution. (2) Management and investment decisions about an individual asset must be made not in isolation but rather in the context of the institutional fund's portfolio of investments as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the fund and to the institution. (3) Except as otherwise provided by law other than this subchapter, an institution may invest in any kind of property or type of investment consistent with this section. (4) An institution shall diversify the investments of an institutional fund unless the institution reasonably determines that, because of special circumstances, the purposes of the fund are better served without diversification. (5) Within a reasonable time after receiving property, an institution shall make and carry out decisions concerning the retention or disposition of the property or to rebalance a portfolio, in order to bring the institutional fund into compliance with the purposes, terms, and distribution requirements of the institution as necessary to meet other circumstances of the institution and the requirements of this subchapter. (6) A person that has special skills or expertise, or is selected in reliance upon the person's representation that the person has special skills or expertise, has a duty to use those skills or that expertise in managing and investing institutional funds. Acts 2009, No. 262, § 1.

(a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund.

(b) In addition to complying with the duty of loyalty imposed by law other than this subchapter, each person responsible for managing and investing an institutional fund shall manage and invest the fund in good faith and with the care an ordinarily prudent person in a like position would exercise under similar circumstances.

(c) In managing and investing an institutional fund, an institution: (1) may incur only costs that are appropriate and reasonable in relation to the assets, the purposes of the institution, and the skills available to the institution; and (2) shall make a reasonable effort to verify facts relevant to the management and investment of the fund.

(1) may incur only costs that are appropriate and reasonable in relation to the assets, the purposes of the institution, and the skills available to the institution; and

(2) shall make a reasonable effort to verify facts relevant to the management and investment of the fund.

(d) An institution may pool two or more institutional funds for purposes of management and investment.

(e) Except as otherwise provided by a gift instrument, the following rules apply: (1) In managing and investing an institutional fund, the following factors, if relevant, must be considered: (A) general economic conditions; (B) the possible effect of inflation or deflation; (C) the expected tax consequences, if any, of investment decisions or strategies; (D) the role that each investment or course of action plays within the overall investment portfolio of the fund; (E) the expected total return from income and the appreciation of investments; (F) other resources of the institution; (G) the needs of the institution and the fund to make distributions and to preserve capital; and (H) an asset's special relationship or special value, if any, to the charitable purposes of the institution. (2) Management and investment decisions about an individual asset must be made not in isolation but rather in the context of the institutional fund's portfolio of investments as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the fund and to the institution. (3) Except as otherwise provided by law other than this subchapter, an institution may invest in any kind of property or type of investment consistent with this section. (4) An institution shall diversify the investments of an institutional fund unless the institution reasonably determines that, because of special circumstances, the purposes of the fund are better served without diversification. (5) Within a reasonable time after receiving property, an institution shall make and carry out decisions concerning the retention or disposition of the property or to rebalance a portfolio, in order to bring the institutional fund into compliance with the purposes, terms, and distribution requirements of the institution as necessary to meet other circumstances of the institution and the requirements of this subchapter. (6) A person that has special skills or expertise, or is selected in reliance upon the person's representation that the person has special skills or expertise, has a duty to use those skills or that expertise in managing and investing institutional funds.

(1) In managing and investing an institutional fund, the following factors, if relevant, must be considered: (A) general economic conditions; (B) the possible effect of inflation or deflation; (C) the expected tax consequences, if any, of investment decisions or strategies; (D) the role that each investment or course of action plays within the overall investment portfolio of the fund; (E) the expected total return from income and the appreciation of investments; (F) other resources of the institution; (G) the needs of the institution and the fund to make distributions and to preserve capital; and (H) an asset's special relationship or special value, if any, to the charitable purposes of the institution.

(A) general economic conditions;

(B) the possible effect of inflation or deflation;

(C) the expected tax consequences, if any, of investment decisions or strategies;

(D) the role that each investment or course of action plays within the overall investment portfolio of the fund;

(E) the expected total return from income and the appreciation of investments;

(F) other resources of the institution;

(G) the needs of the institution and the fund to make distributions and to preserve capital; and

(H) an asset's special relationship or special value, if any, to the charitable purposes of the institution.

(2) Management and investment decisions about an individual asset must be made not in isolation but rather in the context of the institutional fund's portfolio of investments as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the fund and to the institution.

(3) Except as otherwise provided by law other than this subchapter, an institution may invest in any kind of property or type of investment consistent with this section.

(4) An institution shall diversify the investments of an institutional fund unless the institution reasonably determines that, because of special circumstances, the purposes of the fund are better served without diversification.

(5) Within a reasonable time after receiving property, an institution shall make and carry out decisions concerning the retention or disposition of the property or to rebalance a portfolio, in order to bring the institutional fund into compliance with the purposes, terms, and distribution requirements of the institution as necessary to meet other circumstances of the institution and the requirements of this subchapter.

(6) A person that has special skills or expertise, or is selected in reliance upon the person's representation that the person has special skills or expertise, has a duty to use those skills or that expertise in managing and investing institutional funds.

Acts 2009, No. 262, § 1.
Ark. Code Ann. § 28-49-114 — AR Code / Title 28 / Chapter 49 / Section 28-49-114
Performance of decedent's contracts of sale
Status: in_force

(a) When a decedent shall have entered into a contract for the conveyance of real property or sale of specific personal property which was not performed during his or her lifetime, the court, upon petition of the personal representative, the purchaser, or other interested person, if it finds that the decedent, if he or she had lived, could have been required to make the conveyance or consummate the sale, shall direct the personal representative to execute the deed of conveyance or the bill of sale pursuant to the terms of the original contract. The conveyance or bill of sale shall have the same effect to pass the title or interest of the decedent as if made by him or her personally. (b) (1) If the contract requires the giving of warranties, the deed or bill of sale to be given by the personal representative shall contain the warranties required. (2) The warranties shall be binding on the estate as though made by the decedent but shall not bind the personal representative personally. (c) A certified copy of the order authorizing the execution of the instrument may be recorded with the deed or bill of sale in the office of the recorder for the county where the property is situated and shall be prima facie evidence of the due appointment and qualification of the personal representative, the correctness of the proceedings, and the authority of the personal representative to make the conveyance. Acts 1949, No. 140, § 105; A.S.A. 1947, § 62-2412.

(a) When a decedent shall have entered into a contract for the conveyance of real property or sale of specific personal property which was not performed during his or her lifetime, the court, upon petition of the personal representative, the purchaser, or other interested person, if it finds that the decedent, if he or she had lived, could have been required to make the conveyance or consummate the sale, shall direct the personal representative to execute the deed of conveyance or the bill of sale pursuant to the terms of the original contract. The conveyance or bill of sale shall have the same effect to pass the title or interest of the decedent as if made by him or her personally.

(b) (1) If the contract requires the giving of warranties, the deed or bill of sale to be given by the personal representative shall contain the warranties required. (2) The warranties shall be binding on the estate as though made by the decedent but shall not bind the personal representative personally.

(1) If the contract requires the giving of warranties, the deed or bill of sale to be given by the personal representative shall contain the warranties required.

(2) The warranties shall be binding on the estate as though made by the decedent but shall not bind the personal representative personally.

(c) A certified copy of the order authorizing the execution of the instrument may be recorded with the deed or bill of sale in the office of the recorder for the county where the property is situated and shall be prima facie evidence of the due appointment and qualification of the personal representative, the correctness of the proceedings, and the authority of the personal representative to make the conveyance.

Acts 1949, No. 140, § 105; A.S.A. 1947, § 62-2412.
Ark. Code Ann. § 28-72-410 — AR Code / Title 28 / Chapter 72 / Subchapter 4 / Section 28-72-410
Determination of incapacity - Effect
Status: in_force

(a) The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if (i) the custodial trust was created under § 28-72-405 , (ii) the transferor has so directed in the instrument creating the custodial trust, or (iii) the custodial trustee has determined that the beneficiary is incapacitated. (b) A custodial trustee may determine that the beneficiary is incapacitated in reliance upon (i) previous direction or authority given by the beneficiary while not incapacitated, including direction or authority pursuant to a durable power of attorney, (ii) the certificate of the beneficiary's physician, or (iii) other persuasive evidence. (c) If a custodial trustee for an incapacitated beneficiary reasonably concludes that the beneficiary's incapacity has ceased, or that circumstances concerning the beneficiary's ability to manage property and business affairs have changed since the creation of a custodial trust directing administration as for an incapacitated beneficiary, the custodial trustee may administer the trust as for a beneficiary who is not incapacitated. (d) On petition of the beneficiary, the custodial trustee, or other person interested in the custodial trust property or the welfare of the beneficiary, the court shall determine whether the beneficiary is incapacitated. (e) Absent determination of incapacity of the beneficiary under subsection (b) or (d), a custodial trustee who has reason to believe that the beneficiary is incapacitated shall administer the custodial trust in accordance with the provisions of this subchapter applicable to an incapacitated beneficiary. (f) Incapacity of a beneficiary does not terminate: (i) The custodial trust; (ii) Any designation of a successor custodial trustee; (iii) Rights or powers of the custodial trustee; or (iv) Any immunities of third persons acting on instructions of the custodial trustee. Acts 1991, No. 273, § 10.

(a) The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if (i) the custodial trust was created under § 28-72-405 , (ii) the transferor has so directed in the instrument creating the custodial trust, or (iii) the custodial trustee has determined that the beneficiary is incapacitated.

(b) A custodial trustee may determine that the beneficiary is incapacitated in reliance upon (i) previous direction or authority given by the beneficiary while not incapacitated, including direction or authority pursuant to a durable power of attorney, (ii) the certificate of the beneficiary's physician, or (iii) other persuasive evidence.

(c) If a custodial trustee for an incapacitated beneficiary reasonably concludes that the beneficiary's incapacity has ceased, or that circumstances concerning the beneficiary's ability to manage property and business affairs have changed since the creation of a custodial trust directing administration as for an incapacitated beneficiary, the custodial trustee may administer the trust as for a beneficiary who is not incapacitated.

(d) On petition of the beneficiary, the custodial trustee, or other person interested in the custodial trust property or the welfare of the beneficiary, the court shall determine whether the beneficiary is incapacitated.

(e) Absent determination of incapacity of the beneficiary under subsection (b) or (d), a custodial trustee who has reason to believe that the beneficiary is incapacitated shall administer the custodial trust in accordance with the provisions of this subchapter applicable to an incapacitated beneficiary.

(f) Incapacity of a beneficiary does not terminate: (i) The custodial trust; (ii) Any designation of a successor custodial trustee; (iii) Rights or powers of the custodial trustee; or (iv) Any immunities of third persons acting on instructions of the custodial trustee.

(i) The custodial trust;

(ii) Any designation of a successor custodial trustee;

(iii) Rights or powers of the custodial trustee; or

(iv) Any immunities of third persons acting on instructions of the custodial trustee.

Acts 1991, No. 273, § 10.
Ark. Code Ann. § 28-69-809 — AR Code / Title 28 / Chapter 69 / Subchapter 8 / Section 28-69-809
Relation to Electronic Signatures in Global and National Commerce Act
Status: in_force

This subchapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, 15 U.S.C. Section 7001(a) , or authorize electronic delivery of any of the notices described in Section 103 of that act, 15 U.S.C. Section 7003(b) . Acts 2009, No. 262, § 1.

This subchapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, 15 U.S.C. Section 7001(a) , or authorize electronic delivery of any of the notices described in Section 103 of that act, 15 U.S.C. Section 7003(b) .

Acts 2009, No. 262, § 1.
Ark. Code Ann. § 28-73-304 — AR Code / Title 28 / Chapter 73 / Subchapter 3 / Section 28-73-304
Representation by person having substantially identical interest
Status: in_force

Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented. Acts 2005, No. 1031, § 1.

Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-72-418 — AR Code / Title 28 / Chapter 72 / Subchapter 4 / Section 28-72-418
Methods and forms for creating custodial trusts
Status: in_force

(a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of § 28-72-402 are satisfied by: (1) The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form: Click here to view form. (2) The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form: Click here to view form. (b) Customary methods of transferring or evidencing ownership of property may be used to create a custodial trust, including any of the following: (1) Registration of a security in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (2) Delivery of a certificated security, or a document necessary for the transfer of an uncertificated security, together with any necessary endorsement, to an adult other than the transferor or to a trust company as custodial trustee, accompanied by an instrument in substantially the form prescribed in subsection (a)(1); (3) Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (4) Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (5) Delivery of a written assignment to an adult other than the transferor or to a trust company whose name in the assignment is designated in substance by the words: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (6) Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of a trust company, an adult other than the donee of the power, or the donee who holds the power if the beneficiary is other than the donee, whose name in the appointment is designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (7) Delivery of a written notification or assignment of a right to future payment under a contract to an obligor which transfers the right under the contract to a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, whose name in the notification or assignment is designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (8) Execution, delivery, and recordation of a conveyance of an interest in real property in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (9) Issuance of a certificate of title by an agency of a state or of the United States which evidences title to tangible personal property issued in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; or (10) Execution and delivery of an instrument of gift to a trust company or an adult other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act." Acts 1991, No. 273, § 18.

(a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of § 28-72-402 are satisfied by: (1) The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form: Click here to view form. (2) The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form: Click here to view form.

(1) The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form: Click here to view form.

Click here to view form.

(2) The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form: Click here to view form.

Click here to view form.

(b) Customary methods of transferring or evidencing ownership of property may be used to create a custodial trust, including any of the following: (1) Registration of a security in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (2) Delivery of a certificated security, or a document necessary for the transfer of an uncertificated security, together with any necessary endorsement, to an adult other than the transferor or to a trust company as custodial trustee, accompanied by an instrument in substantially the form prescribed in subsection (a)(1); (3) Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (4) Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (5) Delivery of a written assignment to an adult other than the transferor or to a trust company whose name in the assignment is designated in substance by the words: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (6) Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of a trust company, an adult other than the donee of the power, or the donee who holds the power if the beneficiary is other than the donee, whose name in the appointment is designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (7) Delivery of a written notification or assignment of a right to future payment under a contract to an obligor which transfers the right under the contract to a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, whose name in the notification or assignment is designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (8) Execution, delivery, and recordation of a conveyance of an interest in real property in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; (9) Issuance of a certificate of title by an agency of a state or of the United States which evidences title to tangible personal property issued in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; or (10) Execution and delivery of an instrument of gift to a trust company or an adult other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act."

(1) Registration of a security in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(2) Delivery of a certificated security, or a document necessary for the transfer of an uncertificated security, together with any necessary endorsement, to an adult other than the transferor or to a trust company as custodial trustee, accompanied by an instrument in substantially the form prescribed in subsection (a)(1);

(3) Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(4) Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(5) Delivery of a written assignment to an adult other than the transferor or to a trust company whose name in the assignment is designated in substance by the words: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(6) Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of a trust company, an adult other than the donee of the power, or the donee who holds the power if the beneficiary is other than the donee, whose name in the appointment is designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(7) Delivery of a written notification or assignment of a right to future payment under a contract to an obligor which transfers the right under the contract to a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, whose name in the notification or assignment is designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(8) Execution, delivery, and recordation of a conveyance of an interest in real property in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act";

(9) Issuance of a certificate of title by an agency of a state or of the United States which evidences title to tangible personal property issued in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act"; or

(10) Execution and delivery of an instrument of gift to a trust company or an adult other than the transferor, designated in substance: "as custodial trustee for ............... (name of beneficiary) under the Arkansas Custodial Trust Act."

Acts 1991, No. 273, § 18.

72_418_1 - Attachment

72_418_2 - Attachment
Ark. Code Ann. § 28-9-215 — AR Code / Title 28 / Chapter 9 / Subchapter 2 / Section 28-9-215
Devolution where no heir under section 28-9-214
Status: in_force

If an heir to the heritable estate, or some portion thereof, cannot be found under § 28-9-214 , then the portion of the heritable estate as does not pass under § 28-9-214 will pass as follows: (1) First, to the surviving spouse of the intestate even though they had been married less than three (3) years; (2) (A) Second, if there is no such surviving spouse, to the heirs, determined as of the date of the intestate's death in accordance with § 28-9-214 , of the intestate's deceased spouse, meaning the spouse to whom the intestate was last married if there had been more than one (1) marriage. (B) However, in case a marriage was terminated by divorce rather than by death, the heirs of the divorced spouse shall not inherit; and (3) Third, if there is no person capable of inheriting under subdivision (1) or (2) of this section, the estate shall escheat to the county wherein the decedent resided at death. Acts 1969, No. 303, § 20; 1985, No. 703, § 1; A.S.A. 1947, § 61-150.

If an heir to the heritable estate, or some portion thereof, cannot be found under § 28-9-214 , then the portion of the heritable estate as does not pass under § 28-9-214 will pass as follows:

(1) First, to the surviving spouse of the intestate even though they had been married less than three (3) years;

(2) (A) Second, if there is no such surviving spouse, to the heirs, determined as of the date of the intestate's death in accordance with § 28-9-214 , of the intestate's deceased spouse, meaning the spouse to whom the intestate was last married if there had been more than one (1) marriage. (B) However, in case a marriage was terminated by divorce rather than by death, the heirs of the divorced spouse shall not inherit; and

(A) Second, if there is no such surviving spouse, to the heirs, determined as of the date of the intestate's death in accordance with § 28-9-214 , of the intestate's deceased spouse, meaning the spouse to whom the intestate was last married if there had been more than one (1) marriage.

(B) However, in case a marriage was terminated by divorce rather than by death, the heirs of the divorced spouse shall not inherit; and

(3) Third, if there is no person capable of inheriting under subdivision (1) or (2) of this section, the estate shall escheat to the county wherein the decedent resided at death.

Acts 1969, No. 303, § 20; 1985, No. 703, § 1; A.S.A. 1947, § 61-150.
Ark. Code Ann. § 28-65-108 — AR Code / Title 28 / Chapter 65 / Subchapter 1 / Section 28-65-108
Compensation of guardian
Status: in_force

(a) A guardian shall be allowed such compensation for his or her services as guardian as the court shall deem just and reasonable. (b) If the court finds that the guardian has failed to discharge his or her duties as such in any respect, it may deny him or her any compensation whatsoever or may reduce the compensation which would otherwise be allowed. Acts 1985, No. 940, § 42; A.S.A. 1947, § 57-861.

(a) A guardian shall be allowed such compensation for his or her services as guardian as the court shall deem just and reasonable.

(b) If the court finds that the guardian has failed to discharge his or her duties as such in any respect, it may deny him or her any compensation whatsoever or may reduce the compensation which would otherwise be allowed.

Acts 1985, No. 940, § 42; A.S.A. 1947, § 57-861.
Ark. Code Ann. § 28-65-601 — AR Code / Title 28 / Chapter 65 / Subchapter 6 / Section 28-65-601
Petition to act in Arkansas
Status: in_force

(a) If an incompetent person who is a resident of another state, a territory of the United States, or the District of Columbia has a guardian, curator, conservator, committee, tutor, or other person authorized by the laws of the other jurisdiction to have possession and control of the property of the incompetent person, such a person being hereinafter referred to as "foreign guardian", the foreign guardian may petition the circuit court of the county of this state in which a guardianship of the estate of the incompetent person is pending, or, if no such guardianship is pending in this state, of any county in which there is property belonging to his or her ward, or in which a cause of action in behalf of his or her ward may be lawfully brought, for authority: (1) To remove the property to the domicile of the guardian and his or her ward; (2) To sell, mortgage, lease, or exchange the property of his or her ward or to take any other action with reference thereto which a locally appointed guardian would be authorized to take and to remove the proceeds to the domicile of the guardian and his or her ward; or (3) To bring the action in behalf of his or her ward. (b) The foreign guardian shall file with his or her petition an authenticated copy of his or her letters of guardianship, or other appropriate evidence of his or her appointment and qualification, an authenticated copy of the bond, if any, filed by him or her with the court which appointed him or her, and evidence of the value of the property of the ward in the jurisdiction of his or her appointment. Acts 1985, No. 940, § 51; A.S.A. 1947, § 57-870.

(a) If an incompetent person who is a resident of another state, a territory of the United States, or the District of Columbia has a guardian, curator, conservator, committee, tutor, or other person authorized by the laws of the other jurisdiction to have possession and control of the property of the incompetent person, such a person being hereinafter referred to as "foreign guardian", the foreign guardian may petition the circuit court of the county of this state in which a guardianship of the estate of the incompetent person is pending, or, if no such guardianship is pending in this state, of any county in which there is property belonging to his or her ward, or in which a cause of action in behalf of his or her ward may be lawfully brought, for authority: (1) To remove the property to the domicile of the guardian and his or her ward; (2) To sell, mortgage, lease, or exchange the property of his or her ward or to take any other action with reference thereto which a locally appointed guardian would be authorized to take and to remove the proceeds to the domicile of the guardian and his or her ward; or (3) To bring the action in behalf of his or her ward.

(1) To remove the property to the domicile of the guardian and his or her ward;

(2) To sell, mortgage, lease, or exchange the property of his or her ward or to take any other action with reference thereto which a locally appointed guardian would be authorized to take and to remove the proceeds to the domicile of the guardian and his or her ward; or

(3) To bring the action in behalf of his or her ward.

(b) The foreign guardian shall file with his or her petition an authenticated copy of his or her letters of guardianship, or other appropriate evidence of his or her appointment and qualification, an authenticated copy of the bond, if any, filed by him or her with the court which appointed him or her, and evidence of the value of the property of the ward in the jurisdiction of his or her appointment.

Acts 1985, No. 940, § 51; A.S.A. 1947, § 57-870.
Ark. Code Ann. § 28-70-603 — AR Code / Title 28 / Chapter 70 / Subchapter 6 / Section 28-70-603
[Repealed]
Status: repealed

Repealed by Act 2021, No. 1088,§ 1, eff. 1/1/2022.