Ark. Code Ann. § 28-51-303 — AR Code / Title 28 / Chapter 51 / Subchapter 3 / Section 28-51-303
Order for sale, mortgage, or lease
Status: in_force

(a) The order for sale, mortgage, or lease shall describe the property to be sold, mortgaged, or leased and may designate the sequence in which the several parcels shall be sold, mortgaged, or leased. (b) (1) The order shall contain appropriate provisions with respect to the bond of the personal representative and shall direct whether the property shall be sold at private sale or public auction, and if the latter, the place or places of sale. (2) (A) If the sale is to be at public auction, the property shall be sold for not less than three-fourths (¾) of its appraised value. (B) A private sale shall be for not less than ninety percent (90%) of the estimated value thereof, except upon a finding by the court of good cause shown after a hearing for which all interested parties have had reasonable notice. (3) The order shall direct whether the sale shall be for cash or for cash and deferred payments and the terms on which such deferred payments are to be made. (c) If real property is to be mortgaged, the order shall fix the maximum amount of principal debt which may be secured, the maximum rate of interest which the debt may bear, and the earliest and latest date of maturity and shall direct the purpose for which the proceeds shall be used. (d) Except in the case of an oil, gas, or other mineral lease, real property of an estate may not be leased by a personal representative for a term exceeding three (3) years. The order authorizing the lease shall specify the maximum term thereof. (e) In appropriate cases the order shall specify restrictions, reservations, terms, and conditions under which the property is to be sold, mortgaged, or leased. (f) An order for sale, mortgage, or lease shall remain in force until terminated by the court. Amended by Act 2023, No. 326,§ 7, eff. 8/1/2023. Acts 1949, No. 140, § 140; 1951, No. 255, § 11a; A.S.A. 1947, § 62-2717.

(a) The order for sale, mortgage, or lease shall describe the property to be sold, mortgaged, or leased and may designate the sequence in which the several parcels shall be sold, mortgaged, or leased.

(b) (1) The order shall contain appropriate provisions with respect to the bond of the personal representative and shall direct whether the property shall be sold at private sale or public auction, and if the latter, the place or places of sale. (2) (A) If the sale is to be at public auction, the property shall be sold for not less than three-fourths (¾) of its appraised value. (B) A private sale shall be for not less than ninety percent (90%) of the estimated value thereof, except upon a finding by the court of good cause shown after a hearing for which all interested parties have had reasonable notice. (3) The order shall direct whether the sale shall be for cash or for cash and deferred payments and the terms on which such deferred payments are to be made.

(1) The order shall contain appropriate provisions with respect to the bond of the personal representative and shall direct whether the property shall be sold at private sale or public auction, and if the latter, the place or places of sale.

(2) (A) If the sale is to be at public auction, the property shall be sold for not less than three-fourths (¾) of its appraised value. (B) A private sale shall be for not less than ninety percent (90%) of the estimated value thereof, except upon a finding by the court of good cause shown after a hearing for which all interested parties have had reasonable notice.

(A) If the sale is to be at public auction, the property shall be sold for not less than three-fourths (¾) of its appraised value.

(B) A private sale shall be for not less than ninety percent (90%) of the estimated value thereof, except upon a finding by the court of good cause shown after a hearing for which all interested parties have had reasonable notice.

(3) The order shall direct whether the sale shall be for cash or for cash and deferred payments and the terms on which such deferred payments are to be made.

(c) If real property is to be mortgaged, the order shall fix the maximum amount of principal debt which may be secured, the maximum rate of interest which the debt may bear, and the earliest and latest date of maturity and shall direct the purpose for which the proceeds shall be used.

(d) Except in the case of an oil, gas, or other mineral lease, real property of an estate may not be leased by a personal representative for a term exceeding three (3) years. The order authorizing the lease shall specify the maximum term thereof.

(e) In appropriate cases the order shall specify restrictions, reservations, terms, and conditions under which the property is to be sold, mortgaged, or leased.

(f) An order for sale, mortgage, or lease shall remain in force until terminated by the court.

Amended by Act 2023, No. 326,§ 7, eff. 8/1/2023.

Acts 1949, No. 140, § 140; 1951, No. 255, § 11a; A.S.A. 1947, § 62-2717.
Ark. Code Ann. § 28-9-206 — AR Code / Title 28 / Chapter 9 / Subchapter 2 / Section 28-9-206
Interests transmissible by inheritance
Status: in_force

(a) Heirs may inherit every right, title, and interest not terminated by the intestate's death in real or personal property owned by an intestate at the time of the intestate's death and not disposed of by will. (b) The rights of heirs will be subject to: (1) The dower or curtesy of the intestate's surviving spouse; (2) The homestead rights of the surviving spouse and children of the intestate, including the quarantine rights of the surviving spouse; (3) All statutory rights and allowances to the surviving spouse and minor children; (4) Any rights of a surviving spouse in respect to income tax refunds made pursuant to a joint federal income tax return; and (5) An administration of the estate, if any. (c) The portion of the intestate's estate which may pass by inheritance, after giving effect to subsection (b) of this section and to any partial testamentary disposition, is hereinafter sometimes called the "heritable estate" of the intestate. (d) In this connection it is declared that subject to the conditions set out above, the intestate's entire right and title in respect to any and all reversionary and remainder interests, rights of reentry or forfeiture for condition broken, executory interests, and possibilities of reverter, whether any of such interests are vested or contingent, shall be transmissible by inheritance and will pass to the intestate's heirs determined as of the time of the intestate's death. (e) An intestate may transmit his or her title to real or personal property by inheritance even though: (1) The intestate is not in actual or constructive possession thereof; and (2) There may be adverse possession thereof. Acts 1969, No. 303, §§ 7, 8; A.S.A. 1947, §§ 61-137, 61-138.

(a) Heirs may inherit every right, title, and interest not terminated by the intestate's death in real or personal property owned by an intestate at the time of the intestate's death and not disposed of by will.

(b) The rights of heirs will be subject to: (1) The dower or curtesy of the intestate's surviving spouse; (2) The homestead rights of the surviving spouse and children of the intestate, including the quarantine rights of the surviving spouse; (3) All statutory rights and allowances to the surviving spouse and minor children; (4) Any rights of a surviving spouse in respect to income tax refunds made pursuant to a joint federal income tax return; and (5) An administration of the estate, if any.

(1) The dower or curtesy of the intestate's surviving spouse;

(2) The homestead rights of the surviving spouse and children of the intestate, including the quarantine rights of the surviving spouse;

(3) All statutory rights and allowances to the surviving spouse and minor children;

(4) Any rights of a surviving spouse in respect to income tax refunds made pursuant to a joint federal income tax return; and

(5) An administration of the estate, if any.

(c) The portion of the intestate's estate which may pass by inheritance, after giving effect to subsection (b) of this section and to any partial testamentary disposition, is hereinafter sometimes called the "heritable estate" of the intestate.

(d) In this connection it is declared that subject to the conditions set out above, the intestate's entire right and title in respect to any and all reversionary and remainder interests, rights of reentry or forfeiture for condition broken, executory interests, and possibilities of reverter, whether any of such interests are vested or contingent, shall be transmissible by inheritance and will pass to the intestate's heirs determined as of the time of the intestate's death.

(e) An intestate may transmit his or her title to real or personal property by inheritance even though: (1) The intestate is not in actual or constructive possession thereof; and (2) There may be adverse possession thereof.

(1) The intestate is not in actual or constructive possession thereof; and

(2) There may be adverse possession thereof.

Acts 1969, No. 303, §§ 7, 8; A.S.A. 1947, §§ 61-137, 61-138.
Ark. Code Ann. § 28-72-703 — AR Code / Title 28 / Chapter 72 / Subchapter 7 / Section 28-72-703
Creation - Third-party spendthrift trusts and domestic asset protection trusts - Ability of settlor to hold other powers
Status: in_force

(a) A person competent to execute a will or deed may, only by a document that is duly executed, create a spendthrift trust in real, personal, or mixed property for the benefit of: (1) A person other than the settlor; or (2) For a domestic asset protection trust, the settlor or both the settlor and another person, if the document: (A) Is irrevocable; (B) Does not require that any part of the income or principal of the trust be distributed to the settlor; and (C) Is not intended to hinder, delay, or defraud known creditors. (b) A document meets the requirements of subsection (a) of this section even if under the terms of the document the settlor: (1) May prevent a distribution from the trust; (2) Holds a special lifetime or testamentary power of appointment that cannot be exercised in favor of the settlor, the settlor's estate, a creditor of the settlor, or a creditor of the settlor's estate; (3) Is a beneficiary of a trust that qualifies as a charitable remainder trust pursuant to 26 U.S.C. § 664 , as it existed on January 1, 2023, even if the settlor has the right to release the settlor's retained interest in the trust, in whole or in part, in favor of one (1) or more of the remainder beneficiaries of the trust; (4) Is authorized or entitled to: (A) Receive a percentage of the value of the trust each year as specified in the trust instrument of the initial value of the trust assets or their value determined from time to time pursuant to the trust instrument, but not exceeding: (i) The amount that may be defined as income pursuant to 26 U.S.C. § 643(b) , as it existed on January 1, 2023; or (ii) With respect to the benefits from any qualified retirement plan or any eligible deferred compensation plan, the minimum required distribution as defined in 26 U.S.C. § 4974(b) , as it existed on January 1, 2023; (B) Receive income or principal from a grantor-retained annuity trust paying out a qualified annuity interest within the meaning of 26 C.F.R. § 25.2702-3(b) , as it existed on January 1, 2023, or a grantor retained unitrust paying out a qualified unitrust interest within the meaning of 26 C.F.R. § 25.2702-3(c) ; or (C) Use real property held under a qualified personal residence trust as described in 26 C.F.R. § 25.2702-5(c) , as it existed on January 1, 2023; or (5) Is authorized to: (A) Receive income or principal from the trust, but only subject to the discretion of another person; or (B) Use real or personal property owned by the trust. (c) Except for the power of the settlor to make distributions to himself or herself without the consent of another person, the provisions of this section shall not be construed to prohibit the settlor of a spendthrift trust or domestic asset protection trust from holding other powers under the trust, regardless of whether the settlor is a cotrustee, including without limitation the power to: (1) Remove and replace a trustee; (2) Direct trust investments; and (3) Execute other management powers. (d) (1) No specific language is necessary for the creation of a spendthrift trust or domestic asset protection trust. (2) It is sufficient if, by the terms of the document, the creator manifests an intention to create a spendthrift trust or domestic asset protection trust. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.

(a) A person competent to execute a will or deed may, only by a document that is duly executed, create a spendthrift trust in real, personal, or mixed property for the benefit of: (1) A person other than the settlor; or (2) For a domestic asset protection trust, the settlor or both the settlor and another person, if the document: (A) Is irrevocable; (B) Does not require that any part of the income or principal of the trust be distributed to the settlor; and (C) Is not intended to hinder, delay, or defraud known creditors.

(1) A person other than the settlor; or

(2) For a domestic asset protection trust, the settlor or both the settlor and another person, if the document: (A) Is irrevocable; (B) Does not require that any part of the income or principal of the trust be distributed to the settlor; and (C) Is not intended to hinder, delay, or defraud known creditors.

(A) Is irrevocable;

(B) Does not require that any part of the income or principal of the trust be distributed to the settlor; and

(C) Is not intended to hinder, delay, or defraud known creditors.

(b) A document meets the requirements of subsection (a) of this section even if under the terms of the document the settlor: (1) May prevent a distribution from the trust; (2) Holds a special lifetime or testamentary power of appointment that cannot be exercised in favor of the settlor, the settlor's estate, a creditor of the settlor, or a creditor of the settlor's estate; (3) Is a beneficiary of a trust that qualifies as a charitable remainder trust pursuant to 26 U.S.C. § 664 , as it existed on January 1, 2023, even if the settlor has the right to release the settlor's retained interest in the trust, in whole or in part, in favor of one (1) or more of the remainder beneficiaries of the trust; (4) Is authorized or entitled to: (A) Receive a percentage of the value of the trust each year as specified in the trust instrument of the initial value of the trust assets or their value determined from time to time pursuant to the trust instrument, but not exceeding: (i) The amount that may be defined as income pursuant to 26 U.S.C. § 643(b) , as it existed on January 1, 2023; or (ii) With respect to the benefits from any qualified retirement plan or any eligible deferred compensation plan, the minimum required distribution as defined in 26 U.S.C. § 4974(b) , as it existed on January 1, 2023; (B) Receive income or principal from a grantor-retained annuity trust paying out a qualified annuity interest within the meaning of 26 C.F.R. § 25.2702-3(b) , as it existed on January 1, 2023, or a grantor retained unitrust paying out a qualified unitrust interest within the meaning of 26 C.F.R. § 25.2702-3(c) ; or (C) Use real property held under a qualified personal residence trust as described in 26 C.F.R. § 25.2702-5(c) , as it existed on January 1, 2023; or (5) Is authorized to: (A) Receive income or principal from the trust, but only subject to the discretion of another person; or (B) Use real or personal property owned by the trust.

(1) May prevent a distribution from the trust;

(2) Holds a special lifetime or testamentary power of appointment that cannot be exercised in favor of the settlor, the settlor's estate, a creditor of the settlor, or a creditor of the settlor's estate;

(3) Is a beneficiary of a trust that qualifies as a charitable remainder trust pursuant to 26 U.S.C. § 664 , as it existed on January 1, 2023, even if the settlor has the right to release the settlor's retained interest in the trust, in whole or in part, in favor of one (1) or more of the remainder beneficiaries of the trust;

(4) Is authorized or entitled to: (A) Receive a percentage of the value of the trust each year as specified in the trust instrument of the initial value of the trust assets or their value determined from time to time pursuant to the trust instrument, but not exceeding: (i) The amount that may be defined as income pursuant to 26 U.S.C. § 643(b) , as it existed on January 1, 2023; or (ii) With respect to the benefits from any qualified retirement plan or any eligible deferred compensation plan, the minimum required distribution as defined in 26 U.S.C. § 4974(b) , as it existed on January 1, 2023; (B) Receive income or principal from a grantor-retained annuity trust paying out a qualified annuity interest within the meaning of 26 C.F.R. § 25.2702-3(b) , as it existed on January 1, 2023, or a grantor retained unitrust paying out a qualified unitrust interest within the meaning of 26 C.F.R. § 25.2702-3(c) ; or (C) Use real property held under a qualified personal residence trust as described in 26 C.F.R. § 25.2702-5(c) , as it existed on January 1, 2023; or

(A) Receive a percentage of the value of the trust each year as specified in the trust instrument of the initial value of the trust assets or their value determined from time to time pursuant to the trust instrument, but not exceeding: (i) The amount that may be defined as income pursuant to 26 U.S.C. § 643(b) , as it existed on January 1, 2023; or (ii) With respect to the benefits from any qualified retirement plan or any eligible deferred compensation plan, the minimum required distribution as defined in 26 U.S.C. § 4974(b) , as it existed on January 1, 2023;

(i) The amount that may be defined as income pursuant to 26 U.S.C. § 643(b) , as it existed on January 1, 2023; or

(ii) With respect to the benefits from any qualified retirement plan or any eligible deferred compensation plan, the minimum required distribution as defined in 26 U.S.C. § 4974(b) , as it existed on January 1, 2023;

(B) Receive income or principal from a grantor-retained annuity trust paying out a qualified annuity interest within the meaning of 26 C.F.R. § 25.2702-3(b) , as it existed on January 1, 2023, or a grantor retained unitrust paying out a qualified unitrust interest within the meaning of 26 C.F.R. § 25.2702-3(c) ; or

(C) Use real property held under a qualified personal residence trust as described in 26 C.F.R. § 25.2702-5(c) , as it existed on January 1, 2023; or

(5) Is authorized to: (A) Receive income or principal from the trust, but only subject to the discretion of another person; or (B) Use real or personal property owned by the trust.

(A) Receive income or principal from the trust, but only subject to the discretion of another person; or

(B) Use real or personal property owned by the trust.

(c) Except for the power of the settlor to make distributions to himself or herself without the consent of another person, the provisions of this section shall not be construed to prohibit the settlor of a spendthrift trust or domestic asset protection trust from holding other powers under the trust, regardless of whether the settlor is a cotrustee, including without limitation the power to: (1) Remove and replace a trustee; (2) Direct trust investments; and (3) Execute other management powers.

(1) Remove and replace a trustee;

(2) Direct trust investments; and

(3) Execute other management powers.

(d) (1) No specific language is necessary for the creation of a spendthrift trust or domestic asset protection trust. (2) It is sufficient if, by the terms of the document, the creator manifests an intention to create a spendthrift trust or domestic asset protection trust.

(1) No specific language is necessary for the creation of a spendthrift trust or domestic asset protection trust.

(2) It is sufficient if, by the terms of the document, the creator manifests an intention to create a spendthrift trust or domestic asset protection trust.

Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 28-77-302 — AR Code / Title 28 / Chapter 77 / Subchapter 3 / Section 28-77-302
Application - Duties and remedies
Status: in_force

(a) Except as otherwise provided in subsection (b), this subchapter applies to: (1) an income trust, unless the terms of the trust expressly prohibit use of this subchapter by a specific reference to this subchapter or an explicit expression of intent that net income not be calculated as a unitrust amount; and (2) an express unitrust, except to the extent the terms of the trust explicitly: (A) prohibit use of this subchapter by a specific reference to this subchapter; (B) prohibit conversion to an income trust; or (C) limit changes to the method of calculating the unitrust amount. (b) This subchapter does not apply to a trust described in Section 170(f)(2)(B), 642(c)(5), 664(d), 2702(a)(3)(A)(ii) or (iii), or 2702(b) of the Internal Revenue Code of 1986, as amended, 26 U.S.C. Section 170(f)(2)(B) , 642(c)(5) , 664(d) , 2702(a)(3)(A)(ii) or (iii) , or 2702(b) , as amended. (c) An income trust to which this subchapter applies under subsection (a)(1) may be converted to a unitrust under this subchapter regardless of the terms of the trust concerning distributions. Conversion to a unitrust under this subchapter does not affect other terms of the trust concerning distributions of income or principal. (d) This subchapter applies to an estate only to the extent a trust is a beneficiary of the estate. To the extent of the trust's interest in the estate, the estate may be administered as a unitrust, the administration of the estate as a unitrust may be discontinued, or the percentage or method used to calculate the unitrust amount may be changed, in the same manner as for a trust under this subchapter. (e) This subchapter does not create a duty to take or consider action under this subchapter or to inform a beneficiary about the applicability of this subchapter. (f) A fiduciary that in good faith takes or fails to take an action under this subchapter is not liable to a person affected by the action or inaction. Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.

(a) Except as otherwise provided in subsection (b), this subchapter applies to: (1) an income trust, unless the terms of the trust expressly prohibit use of this subchapter by a specific reference to this subchapter or an explicit expression of intent that net income not be calculated as a unitrust amount; and (2) an express unitrust, except to the extent the terms of the trust explicitly: (A) prohibit use of this subchapter by a specific reference to this subchapter; (B) prohibit conversion to an income trust; or (C) limit changes to the method of calculating the unitrust amount.

(1) an income trust, unless the terms of the trust expressly prohibit use of this subchapter by a specific reference to this subchapter or an explicit expression of intent that net income not be calculated as a unitrust amount; and

(2) an express unitrust, except to the extent the terms of the trust explicitly: (A) prohibit use of this subchapter by a specific reference to this subchapter; (B) prohibit conversion to an income trust; or (C) limit changes to the method of calculating the unitrust amount.

(A) prohibit use of this subchapter by a specific reference to this subchapter;

(B) prohibit conversion to an income trust; or

(C) limit changes to the method of calculating the unitrust amount.

(b) This subchapter does not apply to a trust described in Section 170(f)(2)(B), 642(c)(5), 664(d), 2702(a)(3)(A)(ii) or (iii), or 2702(b) of the Internal Revenue Code of 1986, as amended, 26 U.S.C. Section 170(f)(2)(B) , 642(c)(5) , 664(d) , 2702(a)(3)(A)(ii) or (iii) , or 2702(b) , as amended.

(c) An income trust to which this subchapter applies under subsection (a)(1) may be converted to a unitrust under this subchapter regardless of the terms of the trust concerning distributions. Conversion to a unitrust under this subchapter does not affect other terms of the trust concerning distributions of income or principal.

(d) This subchapter applies to an estate only to the extent a trust is a beneficiary of the estate. To the extent of the trust's interest in the estate, the estate may be administered as a unitrust, the administration of the estate as a unitrust may be discontinued, or the percentage or method used to calculate the unitrust amount may be changed, in the same manner as for a trust under this subchapter.

(e) This subchapter does not create a duty to take or consider action under this subchapter or to inform a beneficiary about the applicability of this subchapter.

(f) A fiduciary that in good faith takes or fails to take an action under this subchapter is not liable to a person affected by the action or inaction.

Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.
Ark. Code Ann. § 28-50-101 — AR Code / Title 28 / Chapter 50 / Section 28-50-101
Limitations on filing of claims
Status: in_force

(a) Statute of Nonclaim. (1) Except as provided in §§ 28-50-102 and 28-50-110 , all claims against a decedent's estate, other than expenses of administration and claims of the United States which, under valid laws of the United States, are not barrable by a statute of nonclaim, but including claims of a state or territory of the United States and any subdivision thereof, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract or otherwise, shall be forever barred as against the estate, the personal representative, or the heirs and devisees of the decedent, unless verified to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors. (2) All claims for injury or death caused by the negligence of the decedent shall also be filed within six (6) months from the date of first publication of the notice, or they shall be forever barred and precluded from any benefit in the estate. (b) Statute of Limitations. No claim shall be allowed which was barred by any statute of limitations at the time of the decedent's death. (c) When Statute of Nonclaim Not Affected by Statute of Limitations. No claim shall be barred by the statute of limitations which was not barred thereby at the time of the decedent's death, if the claim shall be presented to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors. (d) Claims Barred When No Administration Commenced or No Notice Published. In any event, all claims barrable under the provision of subsection (a) of this section shall be barred at the end of five (5) years after the date of the death of the decedent, unless within this period letters have been issued and notice to creditors published as provided by § 28-40-111 . (e) Liens Not Affected. Nothing in this section shall affect or prevent any action or proceeding to enforce any mortgage, pledge, or other lien arising under contract or statute upon the property of the estate. (f) Certain Tort Claims Not Affected. (1) Notwithstanding the foregoing provisions relating to the time for filing claims against an estate, or any other provisions of the Probate Code, a tort claim or tort action against the estate of a deceased tortfeasor, to the extent of any recovery which will be satisfied from liability insurance or from uninsured motorist insurance coverage and which will not use, consume, or deplete any assets of the decedent's estate, may be brought within the limitation period otherwise provided for the tort action. (2) No recovery against the tortfeasor's estate shall use, consume, diminish, or deplete the assets of the decedent's estate, and any recovery shall not affect the distribution of the assets of the estate to the heirs, next of kin, legatees, or devisees of the deceased tortfeasor unless a claim is filed in the manner and within the time provided by the Probate Code for filing claims against the estate. (g) Extension of Limitation to Certain Cases. Notwithstanding the foregoing provisions relating to the time for filing claims against an estate, or any other provisions of the Probate Code, a creditor of an estate who receives service of notice from the personal representative in accordance with § 28-40-111(a)(4) , within thirty (30) days of the expiration of the nonclaim period, shall have an additional thirty (30) days after the expiration of the nonclaim period in which to present or file its claim. (h) Claims of Known or Reasonably Ascertainable Creditors Barred. Notwithstanding any other provisions of this section to the contrary, the claims of all known or reasonably ascertainable creditors shall be barred at the end of two (2) years from date of first publication of notice to creditors, even if they have not been provided actual notice in accordance with § 28-40-111(a)(4) . Acts 1949, No. 140, § 110; 1971, No. 385, § 1; 1985, No. 1007, § 3; A.S.A. 1947, § 62-2601; Acts 1989, No. 929, § 2; 1989 (3rd Ex. Sess.), No. 59, § 2; 2007, No. 231, § 1; 2009, No. 217, § 2.

(a) Statute of Nonclaim. (1) Except as provided in §§ 28-50-102 and 28-50-110 , all claims against a decedent's estate, other than expenses of administration and claims of the United States which, under valid laws of the United States, are not barrable by a statute of nonclaim, but including claims of a state or territory of the United States and any subdivision thereof, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract or otherwise, shall be forever barred as against the estate, the personal representative, or the heirs and devisees of the decedent, unless verified to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors. (2) All claims for injury or death caused by the negligence of the decedent shall also be filed within six (6) months from the date of first publication of the notice, or they shall be forever barred and precluded from any benefit in the estate.

(1) Except as provided in §§ 28-50-102 and 28-50-110 , all claims against a decedent's estate, other than expenses of administration and claims of the United States which, under valid laws of the United States, are not barrable by a statute of nonclaim, but including claims of a state or territory of the United States and any subdivision thereof, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract or otherwise, shall be forever barred as against the estate, the personal representative, or the heirs and devisees of the decedent, unless verified to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors.

(2) All claims for injury or death caused by the negligence of the decedent shall also be filed within six (6) months from the date of first publication of the notice, or they shall be forever barred and precluded from any benefit in the estate.

(b) Statute of Limitations. No claim shall be allowed which was barred by any statute of limitations at the time of the decedent's death.

(c) When Statute of Nonclaim Not Affected by Statute of Limitations. No claim shall be barred by the statute of limitations which was not barred thereby at the time of the decedent's death, if the claim shall be presented to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors.

(d) Claims Barred When No Administration Commenced or No Notice Published. In any event, all claims barrable under the provision of subsection (a) of this section shall be barred at the end of five (5) years after the date of the death of the decedent, unless within this period letters have been issued and notice to creditors published as provided by § 28-40-111 .

(e) Liens Not Affected. Nothing in this section shall affect or prevent any action or proceeding to enforce any mortgage, pledge, or other lien arising under contract or statute upon the property of the estate.

(f) Certain Tort Claims Not Affected. (1) Notwithstanding the foregoing provisions relating to the time for filing claims against an estate, or any other provisions of the Probate Code, a tort claim or tort action against the estate of a deceased tortfeasor, to the extent of any recovery which will be satisfied from liability insurance or from uninsured motorist insurance coverage and which will not use, consume, or deplete any assets of the decedent's estate, may be brought within the limitation period otherwise provided for the tort action. (2) No recovery against the tortfeasor's estate shall use, consume, diminish, or deplete the assets of the decedent's estate, and any recovery shall not affect the distribution of the assets of the estate to the heirs, next of kin, legatees, or devisees of the deceased tortfeasor unless a claim is filed in the manner and within the time provided by the Probate Code for filing claims against the estate.

(1) Notwithstanding the foregoing provisions relating to the time for filing claims against an estate, or any other provisions of the Probate Code, a tort claim or tort action against the estate of a deceased tortfeasor, to the extent of any recovery which will be satisfied from liability insurance or from uninsured motorist insurance coverage and which will not use, consume, or deplete any assets of the decedent's estate, may be brought within the limitation period otherwise provided for the tort action.

(2) No recovery against the tortfeasor's estate shall use, consume, diminish, or deplete the assets of the decedent's estate, and any recovery shall not affect the distribution of the assets of the estate to the heirs, next of kin, legatees, or devisees of the deceased tortfeasor unless a claim is filed in the manner and within the time provided by the Probate Code for filing claims against the estate.

(g) Extension of Limitation to Certain Cases. Notwithstanding the foregoing provisions relating to the time for filing claims against an estate, or any other provisions of the Probate Code, a creditor of an estate who receives service of notice from the personal representative in accordance with § 28-40-111(a)(4) , within thirty (30) days of the expiration of the nonclaim period, shall have an additional thirty (30) days after the expiration of the nonclaim period in which to present or file its claim.

(h) Claims of Known or Reasonably Ascertainable Creditors Barred. Notwithstanding any other provisions of this section to the contrary, the claims of all known or reasonably ascertainable creditors shall be barred at the end of two (2) years from date of first publication of notice to creditors, even if they have not been provided actual notice in accordance with § 28-40-111(a)(4) .

Acts 1949, No. 140, § 110; 1971, No. 385, § 1; 1985, No. 1007, § 3; A.S.A. 1947, § 62-2601; Acts 1989, No. 929, § 2; 1989 (3rd Ex. Sess.), No. 59, § 2; 2007, No. 231, § 1; 2009, No. 217, § 2.
Ark. Code Ann. § 28-72-414 — AR Code / Title 28 / Chapter 72 / Subchapter 4 / Section 28-72-414
Expenses, compensation, and bond of custodial trustee
Status: in_force

Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee: (1) is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services; (2) has a noncumulative election, to be made no later than six (6) months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and (3) need not furnish a bond or other security for the faithful performance of fiduciary duties. Acts 1991, No. 273, § 14.

Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:

(1) is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;

(2) has a noncumulative election, to be made no later than six (6) months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and

(3) need not furnish a bond or other security for the faithful performance of fiduciary duties.

Acts 1991, No. 273, § 14.
Ark. Code Ann. § 28-72-704 — AR Code / Title 28 / Chapter 72 / Subchapter 7 / Section 28-72-704
Powers of settlor
Status: in_force

(a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument. (b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit the retention of greater rights or authority than is stated in the trust instrument is void. Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.

(a) The settlor of a spendthrift trust or domestic asset protection trust has only the powers and rights that are conferred to the settlor by the trust instrument.

(b) An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit the retention of greater rights or authority than is stated in the trust instrument is void.

Added by Act 2023, No. 291,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 28-65-215 — AR Code / Title 28 / Chapter 65 / Subchapter 2 / Section 28-65-215
Bond of guardian
Status: in_force

(a) If the guardianship is to be of the person only, the amount of the bond shall not exceed one thousand dollars ($1,000), or the court may dispense with the bond. (b) At every accounting, the court shall inquire into the sufficiency of the bond and of the sureties, and, if either or both are found insufficient, the guardian shall be ordered to file a new or additional bond. (c) If, by the terms of a will, the testator expresses the wish that no bond be required of the person whom he or she requests to be appointed guardian, that person may be relieved of giving a bond with respect to property given by the will to the incapacitated person. (d) Section 28-48-201 et seq. with respect to the bonds of personal representatives shall be applicable to the bonds of guardians, except that in fixing the amount of the guardian's bond, the value of the real property, as distinguished from the income arising therefrom, unless it is sold, shall not be taken into consideration and shall not constitute property which may reasonably be expected to pass through the hands of the guardian. (e) Further, when the ward's estate is all in cash, the court may dispense with the bond if the guardian deposits the entire estate on interest in a bank in Arkansas insured by the Federal Deposit Insurance Corporation or in a savings and loan association in Arkansas insured by the Federal Savings and Loan Insurance Corporation or in a credit union in Arkansas insured by the National Credit Union Administration and the value of the estate is not greater than the amount of the maximum insurance provided by law for a single depositor, and the bank or savings and loan association shall file with the probate clerk of the circuit court an agreement not to permit any withdrawal from the deposit except on authority of a circuit court order. Acts 1985, No. 940, § 18; A.S.A. 1947, § 57-837; Acts 2003, No. 1185, § 281.

(a) If the guardianship is to be of the person only, the amount of the bond shall not exceed one thousand dollars ($1,000), or the court may dispense with the bond.

(b) At every accounting, the court shall inquire into the sufficiency of the bond and of the sureties, and, if either or both are found insufficient, the guardian shall be ordered to file a new or additional bond.

(c) If, by the terms of a will, the testator expresses the wish that no bond be required of the person whom he or she requests to be appointed guardian, that person may be relieved of giving a bond with respect to property given by the will to the incapacitated person.

(d) Section 28-48-201 et seq. with respect to the bonds of personal representatives shall be applicable to the bonds of guardians, except that in fixing the amount of the guardian's bond, the value of the real property, as distinguished from the income arising therefrom, unless it is sold, shall not be taken into consideration and shall not constitute property which may reasonably be expected to pass through the hands of the guardian.

(e) Further, when the ward's estate is all in cash, the court may dispense with the bond if the guardian deposits the entire estate on interest in a bank in Arkansas insured by the Federal Deposit Insurance Corporation or in a savings and loan association in Arkansas insured by the Federal Savings and Loan Insurance Corporation or in a credit union in Arkansas insured by the National Credit Union Administration and the value of the estate is not greater than the amount of the maximum insurance provided by law for a single depositor, and the bank or savings and loan association shall file with the probate clerk of the circuit court an agreement not to permit any withdrawal from the deposit except on authority of a circuit court order.

Acts 1985, No. 940, § 18; A.S.A. 1947, § 57-837; Acts 2003, No. 1185, § 281.
Ark. Code Ann. § 28-54-103 — AR Code / Title 28 / Chapter 54 / Section 28-54-103
Apportionment by will or other dispositive instrument
Status: in_force

(a) Except as otherwise provided in subsection (c), the following rules apply: (1) To the extent that a provision of a decedent's will expressly and unambiguously directs the apportionment of an estate tax, the tax must be apportioned accordingly. (2) Any portion of an estate tax not apportioned pursuant to paragraph (1) must be apportioned in accordance with any provision of a revocable trust of which the decedent was the settlor which expressly and unambiguously directs the apportionment of an estate tax. If conflicting apportionment provisions appear in two or more revocable trust instruments, the provision in the most recently dated instrument prevails. For purposes of this paragraph: (A) a trust is revocable if it was revocable immediately after the trust instrument was executed, even if the trust subsequently becomes irrevocable; and (B) the date of an amendment to a revocable trust instrument is the date of the amended instrument only if the amendment contains an apportionment provision. (3) If any portion of an estate tax is not apportioned pursuant to paragraph (1) or (2), and a provision in any other dispositive instrument expressly and unambiguously directs that any interest in the property disposed of by the instrument is or is not to be applied to the payment of the estate tax attributable to the interest disposed of by the instrument, the provision controls the apportionment of the tax to that interest. (b) Subject to subsection (c), and unless the decedent expressly and unambiguously directs the contrary, the following rules apply: (1) If an apportionment provision directs that a person receiving an interest in property under an instrument is to be exonerated from the responsibility to pay an estate tax that would otherwise be apportioned to the interest, (A) the tax attributable to the exonerated interest must be apportioned among the other persons receiving interests passing under the instrument, or (B) if the values of the other interests are less than the tax attributable to the exonerated interest, the deficiency must be apportioned ratably among the other persons receiving interests in the apportionable estate that are not exonerated from apportionment of the tax. (2) If an apportionment provision directs that an estate tax is to be apportioned to an interest in property a portion of which qualifies for a marital or charitable deduction, the estate tax must first be apportioned ratably among the holders of the portion that does not qualify for a marital or charitable deduction and then apportioned ratably among the holders of the deductible portion to the extent that the value of the nondeductible portion is insufficient. (3) Except as otherwise provided in paragraph (4), if an apportionment provision directs that an estate tax be apportioned to property in which one or more time-limited interests exist, other than interests in specified property under § 28-54-107 , the tax must be apportioned to the principal of that property, regardless of the deductibility of some of the interests in that property. (4) If an apportionment provision directs that an estate tax is to be apportioned to the holders of interests in property in which one or more time-limited interests exist and a charity has an interest that otherwise qualifies for an estate tax charitable deduction, the tax must first be apportioned, to the extent feasible, to interests in property that have not been distributed to the persons entitled to receive the interests. (c) A provision that apportions an estate tax is ineffective to the extent that it increases the tax apportioned to a person having an interest in the gross estate over which the decedent had no power to transfer immediately before the decedent executed the instrument in which the apportionment direction was made. For purposes of this subsection, a testamentary power of appointment is a power to transfer the property that is subject to the power. Acts 2007, No. 276, § 1.

(a) Except as otherwise provided in subsection (c), the following rules apply: (1) To the extent that a provision of a decedent's will expressly and unambiguously directs the apportionment of an estate tax, the tax must be apportioned accordingly. (2) Any portion of an estate tax not apportioned pursuant to paragraph (1) must be apportioned in accordance with any provision of a revocable trust of which the decedent was the settlor which expressly and unambiguously directs the apportionment of an estate tax. If conflicting apportionment provisions appear in two or more revocable trust instruments, the provision in the most recently dated instrument prevails. For purposes of this paragraph: (A) a trust is revocable if it was revocable immediately after the trust instrument was executed, even if the trust subsequently becomes irrevocable; and (B) the date of an amendment to a revocable trust instrument is the date of the amended instrument only if the amendment contains an apportionment provision. (3) If any portion of an estate tax is not apportioned pursuant to paragraph (1) or (2), and a provision in any other dispositive instrument expressly and unambiguously directs that any interest in the property disposed of by the instrument is or is not to be applied to the payment of the estate tax attributable to the interest disposed of by the instrument, the provision controls the apportionment of the tax to that interest.

(1) To the extent that a provision of a decedent's will expressly and unambiguously directs the apportionment of an estate tax, the tax must be apportioned accordingly.

(2) Any portion of an estate tax not apportioned pursuant to paragraph (1) must be apportioned in accordance with any provision of a revocable trust of which the decedent was the settlor which expressly and unambiguously directs the apportionment of an estate tax. If conflicting apportionment provisions appear in two or more revocable trust instruments, the provision in the most recently dated instrument prevails. For purposes of this paragraph: (A) a trust is revocable if it was revocable immediately after the trust instrument was executed, even if the trust subsequently becomes irrevocable; and (B) the date of an amendment to a revocable trust instrument is the date of the amended instrument only if the amendment contains an apportionment provision.

(A) a trust is revocable if it was revocable immediately after the trust instrument was executed, even if the trust subsequently becomes irrevocable; and

(B) the date of an amendment to a revocable trust instrument is the date of the amended instrument only if the amendment contains an apportionment provision.

(3) If any portion of an estate tax is not apportioned pursuant to paragraph (1) or (2), and a provision in any other dispositive instrument expressly and unambiguously directs that any interest in the property disposed of by the instrument is or is not to be applied to the payment of the estate tax attributable to the interest disposed of by the instrument, the provision controls the apportionment of the tax to that interest.

(b) Subject to subsection (c), and unless the decedent expressly and unambiguously directs the contrary, the following rules apply: (1) If an apportionment provision directs that a person receiving an interest in property under an instrument is to be exonerated from the responsibility to pay an estate tax that would otherwise be apportioned to the interest, (A) the tax attributable to the exonerated interest must be apportioned among the other persons receiving interests passing under the instrument, or (B) if the values of the other interests are less than the tax attributable to the exonerated interest, the deficiency must be apportioned ratably among the other persons receiving interests in the apportionable estate that are not exonerated from apportionment of the tax. (2) If an apportionment provision directs that an estate tax is to be apportioned to an interest in property a portion of which qualifies for a marital or charitable deduction, the estate tax must first be apportioned ratably among the holders of the portion that does not qualify for a marital or charitable deduction and then apportioned ratably among the holders of the deductible portion to the extent that the value of the nondeductible portion is insufficient. (3) Except as otherwise provided in paragraph (4), if an apportionment provision directs that an estate tax be apportioned to property in which one or more time-limited interests exist, other than interests in specified property under § 28-54-107 , the tax must be apportioned to the principal of that property, regardless of the deductibility of some of the interests in that property. (4) If an apportionment provision directs that an estate tax is to be apportioned to the holders of interests in property in which one or more time-limited interests exist and a charity has an interest that otherwise qualifies for an estate tax charitable deduction, the tax must first be apportioned, to the extent feasible, to interests in property that have not been distributed to the persons entitled to receive the interests.

(1) If an apportionment provision directs that a person receiving an interest in property under an instrument is to be exonerated from the responsibility to pay an estate tax that would otherwise be apportioned to the interest, (A) the tax attributable to the exonerated interest must be apportioned among the other persons receiving interests passing under the instrument, or (B) if the values of the other interests are less than the tax attributable to the exonerated interest, the deficiency must be apportioned ratably among the other persons receiving interests in the apportionable estate that are not exonerated from apportionment of the tax.

(A) the tax attributable to the exonerated interest must be apportioned among the other persons receiving interests passing under the instrument, or

(B) if the values of the other interests are less than the tax attributable to the exonerated interest, the deficiency must be apportioned ratably among the other persons receiving interests in the apportionable estate that are not exonerated from apportionment of the tax.

(2) If an apportionment provision directs that an estate tax is to be apportioned to an interest in property a portion of which qualifies for a marital or charitable deduction, the estate tax must first be apportioned ratably among the holders of the portion that does not qualify for a marital or charitable deduction and then apportioned ratably among the holders of the deductible portion to the extent that the value of the nondeductible portion is insufficient.

(3) Except as otherwise provided in paragraph (4), if an apportionment provision directs that an estate tax be apportioned to property in which one or more time-limited interests exist, other than interests in specified property under § 28-54-107 , the tax must be apportioned to the principal of that property, regardless of the deductibility of some of the interests in that property.

(4) If an apportionment provision directs that an estate tax is to be apportioned to the holders of interests in property in which one or more time-limited interests exist and a charity has an interest that otherwise qualifies for an estate tax charitable deduction, the tax must first be apportioned, to the extent feasible, to interests in property that have not been distributed to the persons entitled to receive the interests.

(c) A provision that apportions an estate tax is ineffective to the extent that it increases the tax apportioned to a person having an interest in the gross estate over which the decedent had no power to transfer immediately before the decedent executed the instrument in which the apportionment direction was made. For purposes of this subsection, a testamentary power of appointment is a power to transfer the property that is subject to the power.

Acts 2007, No. 276, § 1.
Ark. Code Ann. § 28-65-401 — AR Code / Title 28 / Chapter 65 / Subchapter 4 / Section 28-65-401
Termination generally
Status: in_force

(a) A guardianship is terminated: (1) If the guardianship was solely because of the ward's incompetency for a cause other than minority, by an adjudication of the competency of the ward; (2) By the death of the ward; (3) If the guardianship was solely because of the ward's minority, the marriage of the ward shall terminate a guardianship of the person, but not of the estate of the ward except with respect to the ward's earnings for personal services; or (4) If the guardianship was solely because of the ward's minority, by the ward's reaching the age of majority, unless the guardian receives a guardianship subsidy from the Department of Human Services, then the guardianship is terminated when the ward: (A) Reaches twenty-one (21) years of age; or (B) Who is eighteen (18) years of age or older requests termination of the guardianship. (b) A guardianship may be terminated by court order after such notice as the court may require: (1) (A) If the guardianship was solely because of the ward's minority, and either the ward attains his or her majority or the disability of minority of the ward is removed for all purposes by a court of competent jurisdiction. (B) However, if the court finds upon a proper showing by substantial competent evidence that it is in the best interest of the ward that the guardianship be continued after the ward reaches majority, the court may order the guardianship to continue until such time as it may be terminated by order of the court; (2) If the ward becomes a nonresident of this state; or (3) If, for any other reason, the guardianship is: (A) No longer necessary; and (B) No longer in the best interest of the ward. (c) (1) When a guardianship terminates otherwise than by the death of the ward, the powers of the guardian cease, except that a guardian of the estate may make disbursements for claims that are or may be allowed by the court, for liabilities already properly incurred for the estate or for the ward, and for expenses of administration. (2) When a guardianship terminates by the death of the ward, the guardian of the estate may proceed under § 28-65-323 , but the rights of all creditors against the ward's estate shall be determined by the law governing decedents' estates. Amended by Act 2017, No. 717,§ 1, eff. 8/1/2017. Amended by Act 2013, No. 577,§ 4, eff. 8/16/2013. Acts 1985, No. 940, § 45; A.S.A. 1947, § 57-864.

(a) A guardianship is terminated: (1) If the guardianship was solely because of the ward's incompetency for a cause other than minority, by an adjudication of the competency of the ward; (2) By the death of the ward; (3) If the guardianship was solely because of the ward's minority, the marriage of the ward shall terminate a guardianship of the person, but not of the estate of the ward except with respect to the ward's earnings for personal services; or (4) If the guardianship was solely because of the ward's minority, by the ward's reaching the age of majority, unless the guardian receives a guardianship subsidy from the Department of Human Services, then the guardianship is terminated when the ward: (A) Reaches twenty-one (21) years of age; or (B) Who is eighteen (18) years of age or older requests termination of the guardianship.

(1) If the guardianship was solely because of the ward's incompetency for a cause other than minority, by an adjudication of the competency of the ward;

(2) By the death of the ward;

(3) If the guardianship was solely because of the ward's minority, the marriage of the ward shall terminate a guardianship of the person, but not of the estate of the ward except with respect to the ward's earnings for personal services; or

(4) If the guardianship was solely because of the ward's minority, by the ward's reaching the age of majority, unless the guardian receives a guardianship subsidy from the Department of Human Services, then the guardianship is terminated when the ward: (A) Reaches twenty-one (21) years of age; or (B) Who is eighteen (18) years of age or older requests termination of the guardianship.

(A) Reaches twenty-one (21) years of age; or

(B) Who is eighteen (18) years of age or older requests termination of the guardianship.

(b) A guardianship may be terminated by court order after such notice as the court may require: (1) (A) If the guardianship was solely because of the ward's minority, and either the ward attains his or her majority or the disability of minority of the ward is removed for all purposes by a court of competent jurisdiction. (B) However, if the court finds upon a proper showing by substantial competent evidence that it is in the best interest of the ward that the guardianship be continued after the ward reaches majority, the court may order the guardianship to continue until such time as it may be terminated by order of the court; (2) If the ward becomes a nonresident of this state; or (3) If, for any other reason, the guardianship is: (A) No longer necessary; and (B) No longer in the best interest of the ward.

(1) (A) If the guardianship was solely because of the ward's minority, and either the ward attains his or her majority or the disability of minority of the ward is removed for all purposes by a court of competent jurisdiction. (B) However, if the court finds upon a proper showing by substantial competent evidence that it is in the best interest of the ward that the guardianship be continued after the ward reaches majority, the court may order the guardianship to continue until such time as it may be terminated by order of the court;

(A) If the guardianship was solely because of the ward's minority, and either the ward attains his or her majority or the disability of minority of the ward is removed for all purposes by a court of competent jurisdiction.

(B) However, if the court finds upon a proper showing by substantial competent evidence that it is in the best interest of the ward that the guardianship be continued after the ward reaches majority, the court may order the guardianship to continue until such time as it may be terminated by order of the court;

(2) If the ward becomes a nonresident of this state; or

(3) If, for any other reason, the guardianship is: (A) No longer necessary; and (B) No longer in the best interest of the ward.

(A) No longer necessary; and

(B) No longer in the best interest of the ward.

(c) (1) When a guardianship terminates otherwise than by the death of the ward, the powers of the guardian cease, except that a guardian of the estate may make disbursements for claims that are or may be allowed by the court, for liabilities already properly incurred for the estate or for the ward, and for expenses of administration. (2) When a guardianship terminates by the death of the ward, the guardian of the estate may proceed under § 28-65-323 , but the rights of all creditors against the ward's estate shall be determined by the law governing decedents' estates.

(1) When a guardianship terminates otherwise than by the death of the ward, the powers of the guardian cease, except that a guardian of the estate may make disbursements for claims that are or may be allowed by the court, for liabilities already properly incurred for the estate or for the ward, and for expenses of administration.

(2) When a guardianship terminates by the death of the ward, the guardian of the estate may proceed under § 28-65-323 , but the rights of all creditors against the ward's estate shall be determined by the law governing decedents' estates.

Amended by Act 2017, No. 717,§ 1, eff. 8/1/2017.

Amended by Act 2013, No. 577,§ 4, eff. 8/16/2013.

Acts 1985, No. 940, § 45; A.S.A. 1947, § 57-864.
Ark. Code Ann. § 28-15-102 — AR Code / Title 28 / Chapter 15 / Section 28-15-102
Definitions
Status: in_force

In this chapter: (1) "Community-property spouse" means an individual in a marriage or other relationship: (A) under which community property could be acquired during the existence of the relationship; and (B) that remains in existence at the time of death of either party to the relationship. (2) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. (3) "Jurisdiction" means the United States, a state, a foreign country, or a political subdivision of a foreign country. (4) "Partition" means voluntarily divide property to which this chapter otherwise would apply. (5) "Person" means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. (6) "Personal representative" includes an executor, administrator, successor personal representative, special administrator, and other person that performs substantially the same function. (7) "Property" means anything that may be the subject of ownership, whether real or personal, tangible or intangible, legal or equitable, or any interest therein. (8) "Reclassify" means change the characterization or treatment of community property to property owned separately by community-property spouses. (9) "Record" means information: (A) inscribed on a tangible medium; or (B) stored in an electronic or other medium and retrievable in perceivable form. (10) "Sign" means, with present intent to authenticate or adopt a record: (A) execute or adopt a tangible symbol; or (B) attach to or logically associate with the record an electronic symbol, sound, or process. (11) "State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any other territory or possession subject to the jurisdiction of the United States. The term includes a federally recognized Indian tribe. Added by Act 2023, No. 582,§ 1, eff. 8/1/2023.

In this chapter:

(1) "Community-property spouse" means an individual in a marriage or other relationship: (A) under which community property could be acquired during the existence of the relationship; and (B) that remains in existence at the time of death of either party to the relationship.

(A) under which community property could be acquired during the existence of the relationship; and

(B) that remains in existence at the time of death of either party to the relationship.

(2) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

(3) "Jurisdiction" means the United States, a state, a foreign country, or a political subdivision of a foreign country.

(4) "Partition" means voluntarily divide property to which this chapter otherwise would apply.

(5) "Person" means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity.

(6) "Personal representative" includes an executor, administrator, successor personal representative, special administrator, and other person that performs substantially the same function.

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

(8) "Reclassify" means change the characterization or treatment of community property to property owned separately by community-property spouses.

(9) "Record" means information: (A) inscribed on a tangible medium; or (B) stored in an electronic or other medium and retrievable in perceivable form.

(A) inscribed on a tangible medium; or

(B) stored in an electronic or other medium and retrievable in perceivable form.

(10) "Sign" means, with present intent to authenticate or adopt a record: (A) execute or adopt a tangible symbol; or (B) attach to or logically associate with the record an electronic symbol, sound, or process.

(A) execute or adopt a tangible symbol; or

(B) attach to or logically associate with the record an electronic symbol, sound, or process.

(11) "State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any other territory or possession subject to the jurisdiction of the United States. The term includes a federally recognized Indian tribe.

Added by Act 2023, No. 582,§ 1, eff. 8/1/2023.
Ark. Code Ann. § 28-42-108 — AR Code / Title 28 / Chapter 42 / Section 28-42-108
Payment of claims - Insolvent estates
Status: in_force

(a) Equality Subject to Preferences and Security. (1) If the estate, either in this state or as a whole, is insolvent, it shall be disposed of so that, as far as possible, each creditor whose claim has been allowed, either in this state or elsewhere, shall receive an equal proportion of his or her claim, subject to preferences and priorities and to any security which a creditor has as to particular assets. (2) If a preference or priority is allowed in another jurisdiction but not in this state, the creditor so benefited shall receive dividends from local assets only upon the balance of his or her claim after deducting the amount of the benefit. (3) The validity and effect of any security held in this state shall be determined by the law of this state, but a secured creditor who has not released or surrendered his or her security shall be entitled only to a proportion computed upon the balance due after the value of all security not exempt from the claims of unsecured creditors is determined and credited upon the claim secured by it. (b) Procedure. (1) In case of insolvency and if local assets permit, each claim allowed in this state shall be paid its proportion, and any balance of assets shall be disposed of in accordance with § 28-42-109 . (2) If local assets are not sufficient to pay all claims allowed in this state the full amount to which they are entitled under this section, local assets shall be marshaled so that each claim allowed in this state shall be paid its proportion as far as possible, after taking into account all dividends on claims allowed in this state from assets in other jurisdictions. Acts 1949, No. 140, § 185; A.S.A. 1947, § 62-3107.

(a) Equality Subject to Preferences and Security. (1) If the estate, either in this state or as a whole, is insolvent, it shall be disposed of so that, as far as possible, each creditor whose claim has been allowed, either in this state or elsewhere, shall receive an equal proportion of his or her claim, subject to preferences and priorities and to any security which a creditor has as to particular assets. (2) If a preference or priority is allowed in another jurisdiction but not in this state, the creditor so benefited shall receive dividends from local assets only upon the balance of his or her claim after deducting the amount of the benefit. (3) The validity and effect of any security held in this state shall be determined by the law of this state, but a secured creditor who has not released or surrendered his or her security shall be entitled only to a proportion computed upon the balance due after the value of all security not exempt from the claims of unsecured creditors is determined and credited upon the claim secured by it.

(1) If the estate, either in this state or as a whole, is insolvent, it shall be disposed of so that, as far as possible, each creditor whose claim has been allowed, either in this state or elsewhere, shall receive an equal proportion of his or her claim, subject to preferences and priorities and to any security which a creditor has as to particular assets.

(2) If a preference or priority is allowed in another jurisdiction but not in this state, the creditor so benefited shall receive dividends from local assets only upon the balance of his or her claim after deducting the amount of the benefit.

(3) The validity and effect of any security held in this state shall be determined by the law of this state, but a secured creditor who has not released or surrendered his or her security shall be entitled only to a proportion computed upon the balance due after the value of all security not exempt from the claims of unsecured creditors is determined and credited upon the claim secured by it.

(b) Procedure. (1) In case of insolvency and if local assets permit, each claim allowed in this state shall be paid its proportion, and any balance of assets shall be disposed of in accordance with § 28-42-109 . (2) If local assets are not sufficient to pay all claims allowed in this state the full amount to which they are entitled under this section, local assets shall be marshaled so that each claim allowed in this state shall be paid its proportion as far as possible, after taking into account all dividends on claims allowed in this state from assets in other jurisdictions.

(1) In case of insolvency and if local assets permit, each claim allowed in this state shall be paid its proportion, and any balance of assets shall be disposed of in accordance with § 28-42-109 .

(2) If local assets are not sufficient to pay all claims allowed in this state the full amount to which they are entitled under this section, local assets shall be marshaled so that each claim allowed in this state shall be paid its proportion as far as possible, after taking into account all dividends on claims allowed in this state from assets in other jurisdictions.

Acts 1949, No. 140, § 185; A.S.A. 1947, § 62-3107.
Ark. Code Ann. § 28-10-205 — AR Code / Title 28 / Chapter 10 / Subchapter 2 / Section 28-10-205
Evidence of death or status
Status: in_force

In addition to the rules of evidence in courts of general jurisdiction, the following rules relating to a determination of death and status apply: (1) Death occurs when an individual has sustained either: (1) irreversible cessation of circulatory and respiratory functions or (2) irreversible cessation of all functions of the entire brain, including the brain stem. A determination of death must be made in accordance with accepted medical standards. (2) A certified or authenticated copy of a death certificate purporting to be issued by an official or agency of the place where the death purportedly occurred is prima facie evidence of the fact, place, date, and time of death and the identity of the decedent. (3) A certified or authenticated copy of any record or report of a governmental agency, domestic or foreign, that an individual is missing, detained, dead, or alive is prima facie evidence of the status and of the dates, circumstances, and places disclosed by the record or report. (4) In the absence of prima facie evidence of death under paragraph (2) or (3), the fact of death may be established by clear and convincing evidence, including circumstantial evidence. (5) An individual whose death is not established under the preceding paragraphs who is absent for a continuous period of five years, during which he or she has not been heard from, and whose absence is not satisfactorily explained after diligent search or inquiry, is presumed to be dead. His or her death is presumed to have occurred at the end of the period unless there is sufficient evidence for determining that death occurred earlier. (6) In the absence of evidence disputing the time of death stipulated on a document described in paragraph (2) or (3), a document described in paragraph (2) or (3) that stipulates a time of death 120 hours or more after the time of death of another individual, however the time of death of the other individual is determined, establishes by clear and convincing evidence that the individual survived the other individual by 120 hours. Acts 2005, No. 74, § 1.

In addition to the rules of evidence in courts of general jurisdiction, the following rules relating to a determination of death and status apply:

(1) Death occurs when an individual has sustained either:

(1) irreversible cessation of circulatory and respiratory functions or (2) irreversible cessation of all functions of the entire brain, including the brain stem. A determination of death must be made in accordance with accepted medical standards.

(2) A certified or authenticated copy of a death certificate purporting to be issued by an official or agency of the place where the death purportedly occurred is prima facie evidence of the fact, place, date, and time of death and the identity of the decedent.

(3) A certified or authenticated copy of any record or report of a governmental agency, domestic or foreign, that an individual is missing, detained, dead, or alive is prima facie evidence of the status and of the dates, circumstances, and places disclosed by the record or report.

(4) In the absence of prima facie evidence of death under paragraph (2) or (3), the fact of death may be established by clear and convincing evidence, including circumstantial evidence.

(5) An individual whose death is not established under the preceding paragraphs who is absent for a continuous period of five years, during which he or she has not been heard from, and whose absence is not satisfactorily explained after diligent search or inquiry, is presumed to be dead. His or her death is presumed to have occurred at the end of the period unless there is sufficient evidence for determining that death occurred earlier.

(6) In the absence of evidence disputing the time of death stipulated on a document described in paragraph (2) or (3), a document described in paragraph (2) or (3) that stipulates a time of death 120 hours or more after the time of death of another individual, however the time of death of the other individual is determined, establishes by clear and convincing evidence that the individual survived the other individual by 120 hours.

Acts 2005, No. 74, § 1.
Ark. Code Ann. § 28-40-102 — AR Code / Title 28 / Chapter 40 / Subchapter 1 / Section 28-40-102
Venue
Status: in_force

(a) The venue for the probate of a will and for administration shall be: (1) In the county in this state where the decedent resided at the time of his or her death; (2) If the decedent did not reside in this state, then in the county wherein is situated the greater part, in value, of the property of the decedent located in this state; (3) If the decedent had no residence or property in this state, but died in this state, then in the county in which he or she died; and (4) If the decedent had no residence or property in this state and died outside of this state, then in any county in which a cause of action may be maintained by his or her personal representative. (b) The proceedings shall be deemed commenced by the filing of a petition, the issuance of letters, and the qualification of a personal representative. The proceeding first legally commenced is extended to all of the property in this state. (c) (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. (2) If the proper venue is finally determined to be in another county, the court, after making and retaining a true copy of the entire file, shall transmit the original to the proper county. (d) (1) If it appears to the court at any time before the order of final distribution that the proceeding was commenced in the wrong county or that it would be for the best interest of the estate, then the court, in its discretion, may order the proceeding with all papers, files, and a certified copy of all orders therein transferred to another circuit court, which need not be a court of proper venue under other provisions of this section. The other court shall thereupon proceed to complete the administration proceeding as if originally commenced therein. (2) The bond, if any, of the personal representative filed in the court from which the proceeding is transferred shall remain in effect unless and until replaced by a new bond ordered and approved by the court to which the proceeding is transferred. Acts 1949, No. 140, § 41; A.S.A. 1947, § 62-2102.

(a) The venue for the probate of a will and for administration shall be: (1) In the county in this state where the decedent resided at the time of his or her death; (2) If the decedent did not reside in this state, then in the county wherein is situated the greater part, in value, of the property of the decedent located in this state; (3) If the decedent had no residence or property in this state, but died in this state, then in the county in which he or she died; and (4) If the decedent had no residence or property in this state and died outside of this state, then in any county in which a cause of action may be maintained by his or her personal representative.

(1) In the county in this state where the decedent resided at the time of his or her death;

(2) If the decedent did not reside in this state, then in the county wherein is situated the greater part, in value, of the property of the decedent located in this state;

(3) If the decedent had no residence or property in this state, but died in this state, then in the county in which he or she died; and

(4) If the decedent had no residence or property in this state and died outside of this state, then in any county in which a cause of action may be maintained by his or her personal representative.

(b) The proceedings shall be deemed commenced by the filing of a petition, the issuance of letters, and the qualification of a personal representative. The proceeding first legally commenced is extended to all of the property in this state.

(c) (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. (2) If the proper venue is finally determined to be in another county, the court, after making and retaining a true copy of the entire file, shall transmit the original to the proper county.

(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.

(2) If the proper venue is finally determined to be in another county, the court, after making and retaining a true copy of the entire file, shall transmit the original to the proper county.

(d) (1) If it appears to the court at any time before the order of final distribution that the proceeding was commenced in the wrong county or that it would be for the best interest of the estate, then the court, in its discretion, may order the proceeding with all papers, files, and a certified copy of all orders therein transferred to another circuit court, which need not be a court of proper venue under other provisions of this section. The other court shall thereupon proceed to complete the administration proceeding as if originally commenced therein. (2) The bond, if any, of the personal representative filed in the court from which the proceeding is transferred shall remain in effect unless and until replaced by a new bond ordered and approved by the court to which the proceeding is transferred.

(1) If it appears to the court at any time before the order of final distribution that the proceeding was commenced in the wrong county or that it would be for the best interest of the estate, then the court, in its discretion, may order the proceeding with all papers, files, and a certified copy of all orders therein transferred to another circuit court, which need not be a court of proper venue under other provisions of this section. The other court shall thereupon proceed to complete the administration proceeding as if originally commenced therein.

(2) The bond, if any, of the personal representative filed in the court from which the proceeding is transferred shall remain in effect unless and until replaced by a new bond ordered and approved by the court to which the proceeding is transferred.

Acts 1949, No. 140, § 41; A.S.A. 1947, § 62-2102.
Ark. Code Ann. § 28-71-101 — AR Code / Title 28 / Chapter 71 / Section 28-71-101
Fiduciaries' powers cumulative - Uniform Veterans' Guardianship Act not affected
Status: in_force

(a) The powers granted by this chapter to the fiduciaries named in this chapter shall be in addition to the powers existing by virtue of other acts heretofore enacted authorizing investments by fiduciaries. (b) This chapter shall not apply in any situation governed by the Uniform Veterans' Guardianship Act, § 28-66-101 et seq. Acts 1955, No. 121, § 6; A.S.A. 1947, § 58-306.

(a) The powers granted by this chapter to the fiduciaries named in this chapter shall be in addition to the powers existing by virtue of other acts heretofore enacted authorizing investments by fiduciaries.

(b) This chapter shall not apply in any situation governed by the Uniform Veterans' Guardianship Act, § 28-66-101 et seq.

Acts 1955, No. 121, § 6; A.S.A. 1947, § 58-306.
Ark. Code Ann. § 28-73-1102 — AR Code / Title 28 / Chapter 73 / Subchapter 11 / Section 28-73-1102
Electronic records and signatures
Status: in_force

The provisions of this chapter governing the legal effect, validity, or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of such records or signatures, conform to the requirements of Section 102 of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., and supersede, modify, and limit the requirements of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq. Acts 2005, No. 1031, § 1.

The provisions of this chapter governing the legal effect, validity, or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of such records or signatures, conform to the requirements of Section 102 of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., and supersede, modify, and limit the requirements of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-74-301 — AR Code / Title 28 / Chapter 74 / Subchapter 3 / Section 28-74-301
Transfer of guardianship or conservatorship to another state
Status: in_force

(a) A guardian or conservator appointed in this state may petition the court to transfer the guardianship or conservatorship to another state. (b) Notice of a petition under subsection (a) must be given to the persons that would be entitled to notice of a petition in this state for the appointment of a guardian or conservator. (c) On the court's own motion or on request of the guardian or conservator, the incapacitated or protected person, or other person required to be notified of the petition, the court shall hold a hearing on a petition filed pursuant to subsection (a). (d) The court shall issue an order provisionally granting a petition to transfer a guardianship and shall direct the guardian to petition for guardianship in the other state if the court is satisfied that the guardianship will be accepted by the court in the other state and the court finds that: (1) the incapacitated person is physically present in or is reasonably expected to move permanently to the other state; (2) an objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the incapacitated person; and (3) plans for care and services for the incapacitated person in the other state are reasonable and sufficient. (e) The court shall issue a provisional order granting a petition to transfer a conservatorship and shall direct the conservator to petition for conservatorship in the other state if the court is satisfied that the conservatorship will be accepted by the court of the other state and the court finds that: (1) the protected person is physically present in or is reasonably expected to move permanently to the other state, or the protected person has a significant connection to the other state considering the factors in § 28-74-201(b) ; (2) an objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the protected person; and (3) adequate arrangements will be made for management of the protected person's property. (f) The court shall issue a final order confirming the transfer and terminating the guardianship or conservatorship upon its receipt of: (1) a provisional order accepting the proceeding from the court to which the proceeding is to be transferred which is issued under provisions similar to § 28-74-302 ; and (2) the documents required to terminate a guardianship or conservatorship in this state. Acts 2011, No. 159, § 1.

(a) A guardian or conservator appointed in this state may petition the court to transfer the guardianship or conservatorship to another state.

(b) Notice of a petition under subsection (a) must be given to the persons that would be entitled to notice of a petition in this state for the appointment of a guardian or conservator.

(c) On the court's own motion or on request of the guardian or conservator, the incapacitated or protected person, or other person required to be notified of the petition, the court shall hold a hearing on a petition filed pursuant to subsection (a).

(d) The court shall issue an order provisionally granting a petition to transfer a guardianship and shall direct the guardian to petition for guardianship in the other state if the court is satisfied that the guardianship will be accepted by the court in the other state and the court finds that: (1) the incapacitated person is physically present in or is reasonably expected to move permanently to the other state; (2) an objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the incapacitated person; and (3) plans for care and services for the incapacitated person in the other state are reasonable and sufficient.

(1) the incapacitated person is physically present in or is reasonably expected to move permanently to the other state;

(2) an objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the incapacitated person; and

(3) plans for care and services for the incapacitated person in the other state are reasonable and sufficient.

(e) The court shall issue a provisional order granting a petition to transfer a conservatorship and shall direct the conservator to petition for conservatorship in the other state if the court is satisfied that the conservatorship will be accepted by the court of the other state and the court finds that: (1) the protected person is physically present in or is reasonably expected to move permanently to the other state, or the protected person has a significant connection to the other state considering the factors in § 28-74-201(b) ; (2) an objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the protected person; and (3) adequate arrangements will be made for management of the protected person's property.

(1) the protected person is physically present in or is reasonably expected to move permanently to the other state, or the protected person has a significant connection to the other state considering the factors in § 28-74-201(b) ;

(2) an objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the protected person; and

(3) adequate arrangements will be made for management of the protected person's property.

(f) The court shall issue a final order confirming the transfer and terminating the guardianship or conservatorship upon its receipt of: (1) a provisional order accepting the proceeding from the court to which the proceeding is to be transferred which is issued under provisions similar to § 28-74-302 ; and (2) the documents required to terminate a guardianship or conservatorship in this state.

(1) a provisional order accepting the proceeding from the court to which the proceeding is to be transferred which is issued under provisions similar to § 28-74-302 ; and

(2) the documents required to terminate a guardianship or conservatorship in this state.

Acts 2011, No. 159, § 1.
Ark. Code Ann. § 28-72-412 — AR Code / Title 28 / Chapter 72 / Subchapter 4 / Section 28-72-412
Liability to third person
Status: in_force

(a) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property, or a tort committed in the course of administering the custodial trust, may be asserted by a third person against the custodial trust property by proceeding against the custodial trustee in a fiduciary capacity, whether or not the custodial trustee or the beneficiary is personally liable. (b) A custodial trustee is not personally liable to a third person: (1) on a contract properly entered into in a fiduciary capacity unless the custodial trustee fails to reveal that capacity or to identify the custodial trust in the contract; or (2) for an obligation arising from control of custodial trust property or for a tort committed in the course of the administration of the custodial trust unless the custodial trustee is personally at fault. (c) A beneficiary is not personally liable to a third person for an obligation arising from beneficial ownership of custodial trust property or for a tort committed in the course of administration of the custodial trust unless the beneficiary is personally in possession of the custodial trust property giving rise to the liability or is personally at fault. (d) Subsections (b) and (c) do not preclude actions or proceedings to establish liability of the custodial trustee or beneficiary to the extent the person is protected as the insured by liability insurance. Acts 1991, No. 273, § 12.

(a) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property, or a tort committed in the course of administering the custodial trust, may be asserted by a third person against the custodial trust property by proceeding against the custodial trustee in a fiduciary capacity, whether or not the custodial trustee or the beneficiary is personally liable.

(b) A custodial trustee is not personally liable to a third person: (1) on a contract properly entered into in a fiduciary capacity unless the custodial trustee fails to reveal that capacity or to identify the custodial trust in the contract; or (2) for an obligation arising from control of custodial trust property or for a tort committed in the course of the administration of the custodial trust unless the custodial trustee is personally at fault.

(1) on a contract properly entered into in a fiduciary capacity unless the custodial trustee fails to reveal that capacity or to identify the custodial trust in the contract; or

(2) for an obligation arising from control of custodial trust property or for a tort committed in the course of the administration of the custodial trust unless the custodial trustee is personally at fault.

(c) A beneficiary is not personally liable to a third person for an obligation arising from beneficial ownership of custodial trust property or for a tort committed in the course of administration of the custodial trust unless the beneficiary is personally in possession of the custodial trust property giving rise to the liability or is personally at fault.

(d) Subsections (b) and (c) do not preclude actions or proceedings to establish liability of the custodial trustee or beneficiary to the extent the person is protected as the insured by liability insurance.

Acts 1991, No. 273, § 12.
Ark. Code Ann. § 28-65-103 — AR Code / Title 28 / Chapter 65 / Subchapter 1 / Section 28-65-103
Applicability of other acts
Status: in_force

(a) The provisions of §§ 28-1-101 - 28-1-104 , 28-1-106 , 28-1-108 - 28-1-113 , 28-1-115 , and 28-1-116 , unless therein expressly restricted to decedents' estates, shall apply to guardianships. (b) When sections in subtitle 4 of this title are incorporated by reference by any sections of this chapter they shall be applied as if "decedent" read "incapacitated person" and "personal representative" read "guardian". Similarly, other terms applicable to guardianship shall be substituted for terms applicable to decedents' estates. (c) In those cases in which no specific rule is provided for guardianships in this chapter, the rule governing decedents' estates in Acts 1949, No. 140, as amended, shall apply to guardianships when applicable thereto and not inconsistent with the provisions of this chapter. (d) (1) Nothing in this chapter repeals or supersedes §§ 28-71-101 - 28-71-106 . (2) If there is a conflict between this chapter and §§ 28-71-101 - 28-71-106 , then the provisions of §§ 28-71-101 - 28-71-106 shall control. (e) This chapter does not invalidate appointments of guardians heretofore made pursuant to Acts 1983, No. 345 [repealed], but from and after June 28, 1985, this chapter shall apply to all such guardianships. (f) (1) (A) It is found and determined by the General Assembly that: (i) Act 345 of 1983 [repealed] governing guardianships for incapacitated persons created considerable confusion concerning various other laws relating to the appointment of guardians; (ii) Part of that confusion was due to uncertainty as to whether Act 345 of 1983 [repealed], was intended to repeal or supersede various other laws relating to guardianship; (iii) As a result of this confusion, guardianships were established by various courts in the state under the provisions of various laws which were in effect concurrently with or immediately prior to Act 345 of 1983 [repealed], and there is now some question concerning the validity of some of those guardianships; and (iv) This confusion and doubt should be removed in order that guardians appointed during that period can continue to carry out their responsibilities without the doubt and disagreement concerning their official capacity and authority. (B) It is therefore the intent and purpose of this subsection to validate any and all guardianships established from July 4, 1983, until June 28, 1985, under authority of Act 345 of 1983 [repealed] or any law in effect concurrently with or immediately prior to July 4, 1983. (2) Any guardianship established during the period from July 4, 1983, to June 28, 1985, whether established under Act 345 of 1983 [repealed], or under any act in effect concurrently with Act 345 of 1983 [repealed], or any act in effect immediately prior to July 4, 1983, is declared to be valid and shall continue in effect for the purposes established. However, the provisions of this chapter shall be applicable to all guardianships so established except as otherwise provided in § 28-65-102 . (g) The appropriate jurisdiction for an adult guardianship action, excluding proceedings under the Adult Custody Maltreatment Act, § 9-20-101 et seq., under this chapter that involve a party residing outside the state shall be determined under the Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act, § 28-74-101 et seq. (h) The appropriate jurisdiction for an adult guardianship action under the Adult Custody Maltreatment Act, § 9-20-101 et seq., that involves a maltreated adult residing outside the state shall be determined under the Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act, § 28-74-101 et seq. Acts 1985, No. 940, § 4; A.S.A. 1947, § 57-823; Acts 1987, No. 16, §§ 1, 2; 2011, No. 159, § 2.

(a) The provisions of §§ 28-1-101 - 28-1-104 , 28-1-106 , 28-1-108 - 28-1-113 , 28-1-115 , and 28-1-116 , unless therein expressly restricted to decedents' estates, shall apply to guardianships.

(b) When sections in subtitle 4 of this title are incorporated by reference by any sections of this chapter they shall be applied as if "decedent" read "incapacitated person" and "personal representative" read "guardian". Similarly, other terms applicable to guardianship shall be substituted for terms applicable to decedents' estates.

(c) In those cases in which no specific rule is provided for guardianships in this chapter, the rule governing decedents' estates in Acts 1949, No. 140, as amended, shall apply to guardianships when applicable thereto and not inconsistent with the provisions of this chapter.

(d) (1) Nothing in this chapter repeals or supersedes §§ 28-71-101 - 28-71-106 . (2) If there is a conflict between this chapter and §§ 28-71-101 - 28-71-106 , then the provisions of §§ 28-71-101 - 28-71-106 shall control.

(1) Nothing in this chapter repeals or supersedes §§ 28-71-101 - 28-71-106 .

(2) If there is a conflict between this chapter and §§ 28-71-101 - 28-71-106 , then the provisions of §§ 28-71-101 - 28-71-106 shall control.

(e) This chapter does not invalidate appointments of guardians heretofore made pursuant to Acts 1983, No. 345 [repealed], but from and after June 28, 1985, this chapter shall apply to all such guardianships.

(f) (1) (A) It is found and determined by the General Assembly that: (i) Act 345 of 1983 [repealed] governing guardianships for incapacitated persons created considerable confusion concerning various other laws relating to the appointment of guardians; (ii) Part of that confusion was due to uncertainty as to whether Act 345 of 1983 [repealed], was intended to repeal or supersede various other laws relating to guardianship; (iii) As a result of this confusion, guardianships were established by various courts in the state under the provisions of various laws which were in effect concurrently with or immediately prior to Act 345 of 1983 [repealed], and there is now some question concerning the validity of some of those guardianships; and (iv) This confusion and doubt should be removed in order that guardians appointed during that period can continue to carry out their responsibilities without the doubt and disagreement concerning their official capacity and authority. (B) It is therefore the intent and purpose of this subsection to validate any and all guardianships established from July 4, 1983, until June 28, 1985, under authority of Act 345 of 1983 [repealed] or any law in effect concurrently with or immediately prior to July 4, 1983. (2) Any guardianship established during the period from July 4, 1983, to June 28, 1985, whether established under Act 345 of 1983 [repealed], or under any act in effect concurrently with Act 345 of 1983 [repealed], or any act in effect immediately prior to July 4, 1983, is declared to be valid and shall continue in effect for the purposes established. However, the provisions of this chapter shall be applicable to all guardianships so established except as otherwise provided in § 28-65-102 .

(1) (A) It is found and determined by the General Assembly that: (i) Act 345 of 1983 [repealed] governing guardianships for incapacitated persons created considerable confusion concerning various other laws relating to the appointment of guardians; (ii) Part of that confusion was due to uncertainty as to whether Act 345 of 1983 [repealed], was intended to repeal or supersede various other laws relating to guardianship; (iii) As a result of this confusion, guardianships were established by various courts in the state under the provisions of various laws which were in effect concurrently with or immediately prior to Act 345 of 1983 [repealed], and there is now some question concerning the validity of some of those guardianships; and (iv) This confusion and doubt should be removed in order that guardians appointed during that period can continue to carry out their responsibilities without the doubt and disagreement concerning their official capacity and authority. (B) It is therefore the intent and purpose of this subsection to validate any and all guardianships established from July 4, 1983, until June 28, 1985, under authority of Act 345 of 1983 [repealed] or any law in effect concurrently with or immediately prior to July 4, 1983.

(A) It is found and determined by the General Assembly that: (i) Act 345 of 1983 [repealed] governing guardianships for incapacitated persons created considerable confusion concerning various other laws relating to the appointment of guardians; (ii) Part of that confusion was due to uncertainty as to whether Act 345 of 1983 [repealed], was intended to repeal or supersede various other laws relating to guardianship; (iii) As a result of this confusion, guardianships were established by various courts in the state under the provisions of various laws which were in effect concurrently with or immediately prior to Act 345 of 1983 [repealed], and there is now some question concerning the validity of some of those guardianships; and (iv) This confusion and doubt should be removed in order that guardians appointed during that period can continue to carry out their responsibilities without the doubt and disagreement concerning their official capacity and authority.

(i) Act 345 of 1983 [repealed] governing guardianships for incapacitated persons created considerable confusion concerning various other laws relating to the appointment of guardians;

(ii) Part of that confusion was due to uncertainty as to whether Act 345 of 1983 [repealed], was intended to repeal or supersede various other laws relating to guardianship;

(iii) As a result of this confusion, guardianships were established by various courts in the state under the provisions of various laws which were in effect concurrently with or immediately prior to Act 345 of 1983 [repealed], and there is now some question concerning the validity of some of those guardianships; and

(iv) This confusion and doubt should be removed in order that guardians appointed during that period can continue to carry out their responsibilities without the doubt and disagreement concerning their official capacity and authority.

(B) It is therefore the intent and purpose of this subsection to validate any and all guardianships established from July 4, 1983, until June 28, 1985, under authority of Act 345 of 1983 [repealed] or any law in effect concurrently with or immediately prior to July 4, 1983.

(2) Any guardianship established during the period from July 4, 1983, to June 28, 1985, whether established under Act 345 of 1983 [repealed], or under any act in effect concurrently with Act 345 of 1983 [repealed], or any act in effect immediately prior to July 4, 1983, is declared to be valid and shall continue in effect for the purposes established. However, the provisions of this chapter shall be applicable to all guardianships so established except as otherwise provided in § 28-65-102 .

(g) The appropriate jurisdiction for an adult guardianship action, excluding proceedings under the Adult Custody Maltreatment Act, § 9-20-101 et seq., under this chapter that involve a party residing outside the state shall be determined under the Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act, § 28-74-101 et seq.

(h) The appropriate jurisdiction for an adult guardianship action under the Adult Custody Maltreatment Act, § 9-20-101 et seq., that involves a maltreated adult residing outside the state shall be determined under the Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act, § 28-74-101 et seq.

Acts 1985, No. 940, § 4; A.S.A. 1947, § 57-823; Acts 1987, No. 16, §§ 1, 2; 2011, No. 159, § 2.
Ark. Code Ann. § 28-65-307 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-307
Continuation of business - Liability
Status: in_force

(a) If, at the time of the appointment of a guardian of the estate, the ward owns a business or an interest in a business, the court, by appropriate order, may authorize the guardian to continue the conduct of or participation in such a business in behalf of the ward for such periods of time and subject to such safeguards as the court may find to be for the best interest of the ward. (b) The ward's estate, but not the guardian personally, shall be liable for damages resulting from torts or other acts committed by agents and employees of the guardian in the course of their employment in the conduct of the business. (c) It is specifically recognized that the operation of any business undertaking involves hazards, chance, and danger of loss. In recognition of this fact, it is declared to be the legislative intent that no guardian shall be held personally liable for loss resulting from mere lack of familiarity with the business operations, mistakes of judgment made in good faith, or like causes. Acts 1985, No. 940, § 30; A.S.A. 1947, § 57-849.

(a) If, at the time of the appointment of a guardian of the estate, the ward owns a business or an interest in a business, the court, by appropriate order, may authorize the guardian to continue the conduct of or participation in such a business in behalf of the ward for such periods of time and subject to such safeguards as the court may find to be for the best interest of the ward.

(b) The ward's estate, but not the guardian personally, shall be liable for damages resulting from torts or other acts committed by agents and employees of the guardian in the course of their employment in the conduct of the business.

(c) It is specifically recognized that the operation of any business undertaking involves hazards, chance, and danger of loss. In recognition of this fact, it is declared to be the legislative intent that no guardian shall be held personally liable for loss resulting from mere lack of familiarity with the business operations, mistakes of judgment made in good faith, or like causes.

Acts 1985, No. 940, § 30; A.S.A. 1947, § 57-849.
Ark. Code Ann. § 28-65-311 — AR Code / Title 28 / Chapter 65 / Subchapter 3 / Section 28-65-311
Investments
Status: in_force

(a) The guardian of the estate may, and when ordered by the court shall, deposit as a fiduciary, the funds of the ward in a financial institution of this state, as a general deposit, either in a checking account or a savings account. (b) The guardian shall invest the funds of the ward not reasonably needed for the ward's care, maintenance, or education in securities selected by the guardian from among the following categories: (1) Bonds, notes, or certificates of indebtedness which are the direct obligations of, or the principal and income of which are unconditionally guaranteed by, the United States; (2) Bonds or notes issued by the State of Arkansas; (3) State Board of Education bonds issued under Acts 1937, No. 162 [repealed]; (4) Bonds issued by a county, city, incorporated town, or improvement district of the State of Arkansas, whether the bonds are the general obligation of the issuer or are payable out of a special fund, as long as the bonds are negotiable instruments under the law; (5) Bonds issued by a school district of the State of Arkansas; (6) (A) Shares, share accounts, or accounts of any building and loan association organized under the laws of the State of Arkansas, of any federal savings and loan association domiciled in the State of Arkansas which are insured by the Savings Association Insurance Fund, or of any credit union in Arkansas, for their eligible members, which are insured by the National Credit Union Administration. (B) However, no such investment shall exceed the amounts so insured. (C) Provided, nothing herein shall be construed to expand the field of membership of any credit union; (7) Notes, bonds, debentures, or other similar obligations issued by federal land banks, federal intermediate credit banks, or banks for cooperatives, or any other obligations issued pursuant to the provisions of an act of the United States Congress known as the "Farm Credit Act of 1971" and acts amendatory thereto; (8) Bonds issued by a national mortgage association; (9) Notes or bonds secured by mortgage or deed of trust which the Federal Housing Administration has insured or has made a commitment to insure; (10) Notes or bonds secured fully as to principal and interest by a first mortgage or deed of trust upon improved or timbered real property located in the State of Arkansas in which provision is made for regular periodic payments on the principal, at least annually, sufficient in amount to amortize the indebtedness during a period not exceeding fifteen (15) years. These notes or bonds are to be in an amount not exceeding sixty-five percent (65%) of the value of the real property security as determined by an appraisal thereof approved by the court; (11) Bonds, notes, debentures, or other direct obligations of a state, county, or city located without the State of Arkansas but within the United States, or of a corporation incorporated under the laws of the United States or of any state of the United States or of the District of Columbia which, at the time of the purchase, shall be rated in either the highest or next-highest classification established by at least two (2) nationally recognized standard financial rating services; (12) Shares of any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, as amended, the portfolio of which is limited to the securities described in subdivisions (b)(1)-(11) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian; (13) Contracts for annuities or for life, health, or accident insurance on the person of the ward, or of another in whom the ward has an insurable interest, or a combination of any such contracts, if the contract is payable to the ward or to his or her estate, is in the usual form, and is issued by an insurance company authorized to do business in the State of Arkansas. Any such contract shall reserve the right in the ward to change the beneficiary thereof after the termination of his or her incompetency; (14) Shares or interests in any common trust fund investing in common stocks or preferred stocks listed on a national securities exchange maintained by a guardian which is a state or national bank or trust company authorized by the provisions of §§ 28-69-201 - 28-69-204 to establish and maintain common trust funds; or (15) Shares, securities, or other interests in an open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as it existed on January 1, 2015, or an exchange-traded fund listed on a national securities exchange. (c) (1) Without prior order of the court, no investment shall be made, other than an investment in: (A) Direct obligations of, or obligations unconditionally guaranteed as to principal and income by, the United States; (B) Bonds issued by the State of Arkansas; (C) Shares of any investment company or investment trust described in subdivision (b)(12) of this section, the portfolio of which is limited to the securities described in subdivisions (c)(1)(A) and (B) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian; (D) Bonds issued by a school district in this state; (E) Notes, bonds, debentures, or other similar obligations issued by a federal land bank, a federal intermediate credit bank, a bank for a cooperative, or any other obligation issued under the Farm Credit Act of 1971, 12 U.S.C. § 2001 et seq., as it existed on January 1, 2019; (F) Bonds issued by a national mortgage association; (G) (i) A certificate of deposit or another interest-bearing deposit account of a bank domiciled in this state that is insured by the Federal Deposit Insurance Corporation. (ii) However, an investment in a certificate of deposit or an interest-bearing deposit account shall not exceed the amount insured; or (H) (i) Shares, share certificates, share accounts, or accounts of a: (a) Building and loan association organized under the laws of this state; (b) Federal savings and loan association domiciled in this state and insured by the Savings Association Insurance Fund; or (c) (1) Credit union in this state for eligible members that is insured by the National Credit Union Administration. (2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union. (ii) However, an investment in shares, share certificates, share accounts, or accounts listed in subdivision (c)(1)(H)(i) of this section shall not exceed the amount insured. (2) The court shall not approve an investment in an issue of securities which has been in default for a period exceeding one hundred twenty (120) days during the five (5) years next preceding the investment. (d) If the guardian of the estate is a state or national bank or trust company authorized by the provisions of §§ 28-69-201 - 28-69-204 to establish and maintain common trust funds, the guardian may invest the ward's funds without prior order of the court in: (1) Participation in the common trust fund which, by the terms of the instrument creating it, limits the purchase of investments for such funds to investments authorized in this chapter; (2) Shares, securities, or other interests of any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as it existed on January 1, 2015; or (3) An exchange-traded fund listed on a national securities exchange, the portfolio of which is limited to the securities authorized in this chapter. Amended by Act 2019, No. 591,§ 1, eff. 7/24/2019. Amended by Act 2015, No. 1129,§ 2, eff. 7/22/2015. Amended by Act 2015, No. 1129,§ 1, eff. 7/22/2015. Acts 1985, No. 940, § 35; A.S.A. 1947, § 57-854; Acts 1989, No. 658, §§ 1, 2; 1991, No. 347, § 1; 1997, No. 331, § 1.

(a) The guardian of the estate may, and when ordered by the court shall, deposit as a fiduciary, the funds of the ward in a financial institution of this state, as a general deposit, either in a checking account or a savings account.

(b) The guardian shall invest the funds of the ward not reasonably needed for the ward's care, maintenance, or education in securities selected by the guardian from among the following categories: (1) Bonds, notes, or certificates of indebtedness which are the direct obligations of, or the principal and income of which are unconditionally guaranteed by, the United States; (2) Bonds or notes issued by the State of Arkansas; (3) State Board of Education bonds issued under Acts 1937, No. 162 [repealed]; (4) Bonds issued by a county, city, incorporated town, or improvement district of the State of Arkansas, whether the bonds are the general obligation of the issuer or are payable out of a special fund, as long as the bonds are negotiable instruments under the law; (5) Bonds issued by a school district of the State of Arkansas; (6) (A) Shares, share accounts, or accounts of any building and loan association organized under the laws of the State of Arkansas, of any federal savings and loan association domiciled in the State of Arkansas which are insured by the Savings Association Insurance Fund, or of any credit union in Arkansas, for their eligible members, which are insured by the National Credit Union Administration. (B) However, no such investment shall exceed the amounts so insured. (C) Provided, nothing herein shall be construed to expand the field of membership of any credit union; (7) Notes, bonds, debentures, or other similar obligations issued by federal land banks, federal intermediate credit banks, or banks for cooperatives, or any other obligations issued pursuant to the provisions of an act of the United States Congress known as the "Farm Credit Act of 1971" and acts amendatory thereto; (8) Bonds issued by a national mortgage association; (9) Notes or bonds secured by mortgage or deed of trust which the Federal Housing Administration has insured or has made a commitment to insure; (10) Notes or bonds secured fully as to principal and interest by a first mortgage or deed of trust upon improved or timbered real property located in the State of Arkansas in which provision is made for regular periodic payments on the principal, at least annually, sufficient in amount to amortize the indebtedness during a period not exceeding fifteen (15) years. These notes or bonds are to be in an amount not exceeding sixty-five percent (65%) of the value of the real property security as determined by an appraisal thereof approved by the court; (11) Bonds, notes, debentures, or other direct obligations of a state, county, or city located without the State of Arkansas but within the United States, or of a corporation incorporated under the laws of the United States or of any state of the United States or of the District of Columbia which, at the time of the purchase, shall be rated in either the highest or next-highest classification established by at least two (2) nationally recognized standard financial rating services; (12) Shares of any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, as amended, the portfolio of which is limited to the securities described in subdivisions (b)(1)-(11) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian; (13) Contracts for annuities or for life, health, or accident insurance on the person of the ward, or of another in whom the ward has an insurable interest, or a combination of any such contracts, if the contract is payable to the ward or to his or her estate, is in the usual form, and is issued by an insurance company authorized to do business in the State of Arkansas. Any such contract shall reserve the right in the ward to change the beneficiary thereof after the termination of his or her incompetency; (14) Shares or interests in any common trust fund investing in common stocks or preferred stocks listed on a national securities exchange maintained by a guardian which is a state or national bank or trust company authorized by the provisions of §§ 28-69-201 - 28-69-204 to establish and maintain common trust funds; or (15) Shares, securities, or other interests in an open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as it existed on January 1, 2015, or an exchange-traded fund listed on a national securities exchange.

(1) Bonds, notes, or certificates of indebtedness which are the direct obligations of, or the principal and income of which are unconditionally guaranteed by, the United States;

(2) Bonds or notes issued by the State of Arkansas;

(3) State Board of Education bonds issued under Acts 1937, No. 162 [repealed];

(4) Bonds issued by a county, city, incorporated town, or improvement district of the State of Arkansas, whether the bonds are the general obligation of the issuer or are payable out of a special fund, as long as the bonds are negotiable instruments under the law;

(5) Bonds issued by a school district of the State of Arkansas;

(6) (A) Shares, share accounts, or accounts of any building and loan association organized under the laws of the State of Arkansas, of any federal savings and loan association domiciled in the State of Arkansas which are insured by the Savings Association Insurance Fund, or of any credit union in Arkansas, for their eligible members, which are insured by the National Credit Union Administration. (B) However, no such investment shall exceed the amounts so insured. (C) Provided, nothing herein shall be construed to expand the field of membership of any credit union;

(A) Shares, share accounts, or accounts of any building and loan association organized under the laws of the State of Arkansas, of any federal savings and loan association domiciled in the State of Arkansas which are insured by the Savings Association Insurance Fund, or of any credit union in Arkansas, for their eligible members, which are insured by the National Credit Union Administration.

(B) However, no such investment shall exceed the amounts so insured.

(C) Provided, nothing herein shall be construed to expand the field of membership of any credit union;

(7) Notes, bonds, debentures, or other similar obligations issued by federal land banks, federal intermediate credit banks, or banks for cooperatives, or any other obligations issued pursuant to the provisions of an act of the United States Congress known as the "Farm Credit Act of 1971" and acts amendatory thereto;

(8) Bonds issued by a national mortgage association;

(9) Notes or bonds secured by mortgage or deed of trust which the Federal Housing Administration has insured or has made a commitment to insure;

(10) Notes or bonds secured fully as to principal and interest by a first mortgage or deed of trust upon improved or timbered real property located in the State of Arkansas in which provision is made for regular periodic payments on the principal, at least annually, sufficient in amount to amortize the indebtedness during a period not exceeding fifteen (15) years. These notes or bonds are to be in an amount not exceeding sixty-five percent (65%) of the value of the real property security as determined by an appraisal thereof approved by the court;

(11) Bonds, notes, debentures, or other direct obligations of a state, county, or city located without the State of Arkansas but within the United States, or of a corporation incorporated under the laws of the United States or of any state of the United States or of the District of Columbia which, at the time of the purchase, shall be rated in either the highest or next-highest classification established by at least two (2) nationally recognized standard financial rating services;

(12) Shares of any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, as amended, the portfolio of which is limited to the securities described in subdivisions (b)(1)-(11) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian;

(13) Contracts for annuities or for life, health, or accident insurance on the person of the ward, or of another in whom the ward has an insurable interest, or a combination of any such contracts, if the contract is payable to the ward or to his or her estate, is in the usual form, and is issued by an insurance company authorized to do business in the State of Arkansas. Any such contract shall reserve the right in the ward to change the beneficiary thereof after the termination of his or her incompetency;

(14) Shares or interests in any common trust fund investing in common stocks or preferred stocks listed on a national securities exchange maintained by a guardian which is a state or national bank or trust company authorized by the provisions of §§ 28-69-201 - 28-69-204 to establish and maintain common trust funds; or

(15) Shares, securities, or other interests in an open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as it existed on January 1, 2015, or an exchange-traded fund listed on a national securities exchange.

(c) (1) Without prior order of the court, no investment shall be made, other than an investment in: (A) Direct obligations of, or obligations unconditionally guaranteed as to principal and income by, the United States; (B) Bonds issued by the State of Arkansas; (C) Shares of any investment company or investment trust described in subdivision (b)(12) of this section, the portfolio of which is limited to the securities described in subdivisions (c)(1)(A) and (B) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian; (D) Bonds issued by a school district in this state; (E) Notes, bonds, debentures, or other similar obligations issued by a federal land bank, a federal intermediate credit bank, a bank for a cooperative, or any other obligation issued under the Farm Credit Act of 1971, 12 U.S.C. § 2001 et seq., as it existed on January 1, 2019; (F) Bonds issued by a national mortgage association; (G) (i) A certificate of deposit or another interest-bearing deposit account of a bank domiciled in this state that is insured by the Federal Deposit Insurance Corporation. (ii) However, an investment in a certificate of deposit or an interest-bearing deposit account shall not exceed the amount insured; or (H) (i) Shares, share certificates, share accounts, or accounts of a: (a) Building and loan association organized under the laws of this state; (b) Federal savings and loan association domiciled in this state and insured by the Savings Association Insurance Fund; or (c) (1) Credit union in this state for eligible members that is insured by the National Credit Union Administration. (2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union. (ii) However, an investment in shares, share certificates, share accounts, or accounts listed in subdivision (c)(1)(H)(i) of this section shall not exceed the amount insured. (2) The court shall not approve an investment in an issue of securities which has been in default for a period exceeding one hundred twenty (120) days during the five (5) years next preceding the investment.

(1) Without prior order of the court, no investment shall be made, other than an investment in: (A) Direct obligations of, or obligations unconditionally guaranteed as to principal and income by, the United States; (B) Bonds issued by the State of Arkansas; (C) Shares of any investment company or investment trust described in subdivision (b)(12) of this section, the portfolio of which is limited to the securities described in subdivisions (c)(1)(A) and (B) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian; (D) Bonds issued by a school district in this state; (E) Notes, bonds, debentures, or other similar obligations issued by a federal land bank, a federal intermediate credit bank, a bank for a cooperative, or any other obligation issued under the Farm Credit Act of 1971, 12 U.S.C. § 2001 et seq., as it existed on January 1, 2019; (F) Bonds issued by a national mortgage association; (G) (i) A certificate of deposit or another interest-bearing deposit account of a bank domiciled in this state that is insured by the Federal Deposit Insurance Corporation. (ii) However, an investment in a certificate of deposit or an interest-bearing deposit account shall not exceed the amount insured; or (H) (i) Shares, share certificates, share accounts, or accounts of a: (a) Building and loan association organized under the laws of this state; (b) Federal savings and loan association domiciled in this state and insured by the Savings Association Insurance Fund; or (c) (1) Credit union in this state for eligible members that is insured by the National Credit Union Administration. (2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union. (ii) However, an investment in shares, share certificates, share accounts, or accounts listed in subdivision (c)(1)(H)(i) of this section shall not exceed the amount insured.

(A) Direct obligations of, or obligations unconditionally guaranteed as to principal and income by, the United States;

(B) Bonds issued by the State of Arkansas;

(C) Shares of any investment company or investment trust described in subdivision (b)(12) of this section, the portfolio of which is limited to the securities described in subdivisions (c)(1)(A) and (B) of this section and to repurchase agreements fully collateralized by such securities, provided that the investment company or investment trust takes delivery of the collateral either directly or through an authorized custodian;

(D) Bonds issued by a school district in this state;

(E) Notes, bonds, debentures, or other similar obligations issued by a federal land bank, a federal intermediate credit bank, a bank for a cooperative, or any other obligation issued under the Farm Credit Act of 1971, 12 U.S.C. § 2001 et seq., as it existed on January 1, 2019;

(F) Bonds issued by a national mortgage association;

(G) (i) A certificate of deposit or another interest-bearing deposit account of a bank domiciled in this state that is insured by the Federal Deposit Insurance Corporation. (ii) However, an investment in a certificate of deposit or an interest-bearing deposit account shall not exceed the amount insured; or

(i) A certificate of deposit or another interest-bearing deposit account of a bank domiciled in this state that is insured by the Federal Deposit Insurance Corporation.

(ii) However, an investment in a certificate of deposit or an interest-bearing deposit account shall not exceed the amount insured; or

(H) (i) Shares, share certificates, share accounts, or accounts of a: (a) Building and loan association organized under the laws of this state; (b) Federal savings and loan association domiciled in this state and insured by the Savings Association Insurance Fund; or (c) (1) Credit union in this state for eligible members that is insured by the National Credit Union Administration. (2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union. (ii) However, an investment in shares, share certificates, share accounts, or accounts listed in subdivision (c)(1)(H)(i) of this section shall not exceed the amount insured.

(i) Shares, share certificates, share accounts, or accounts of a: (a) Building and loan association organized under the laws of this state; (b) Federal savings and loan association domiciled in this state and insured by the Savings Association Insurance Fund; or (c) (1) Credit union in this state for eligible members that is insured by the National Credit Union Administration. (2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union.

(a) Building and loan association organized under the laws of this state;

(b) Federal savings and loan association domiciled in this state and insured by the Savings Association Insurance Fund; or

(c) (1) Credit union in this state for eligible members that is insured by the National Credit Union Administration. (2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union.

(1) Credit union in this state for eligible members that is insured by the National Credit Union Administration.

(2) Subdivision (c)(1)(H)(i) (c)(1) of this section does not expand the field of membership of a credit union.

(ii) However, an investment in shares, share certificates, share accounts, or accounts listed in subdivision (c)(1)(H)(i) of this section shall not exceed the amount insured.

(2) The court shall not approve an investment in an issue of securities which has been in default for a period exceeding one hundred twenty (120) days during the five (5) years next preceding the investment.

(d) If the guardian of the estate is a state or national bank or trust company authorized by the provisions of §§ 28-69-201 - 28-69-204 to establish and maintain common trust funds, the guardian may invest the ward's funds without prior order of the court in: (1) Participation in the common trust fund which, by the terms of the instrument creating it, limits the purchase of investments for such funds to investments authorized in this chapter; (2) Shares, securities, or other interests of any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as it existed on January 1, 2015; or (3) An exchange-traded fund listed on a national securities exchange, the portfolio of which is limited to the securities authorized in this chapter.

(1) Participation in the common trust fund which, by the terms of the instrument creating it, limits the purchase of investments for such funds to investments authorized in this chapter;

(2) Shares, securities, or other interests of any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., as it existed on January 1, 2015; or

(3) An exchange-traded fund listed on a national securities exchange, the portfolio of which is limited to the securities authorized in this chapter.

Amended by Act 2019, No. 591,§ 1, eff. 7/24/2019.

Amended by Act 2015, No. 1129,§ 2, eff. 7/22/2015.

Amended by Act 2015, No. 1129,§ 1, eff. 7/22/2015.

Acts 1985, No. 940, § 35; A.S.A. 1947, § 57-854; Acts 1989, No. 658, §§ 1, 2; 1991, No. 347, § 1; 1997, No. 331, § 1.
Ark. Code Ann. § 28-65-501 — AR Code / Title 28 / Chapter 65 / Subchapter 5 / Section 28-65-501
Dispensing with guardianship generally
Status: in_force

(a) The parents of a minor, jointly with equal authority if they are husband and wife living together, or the survivor if one (1) parent is dead, or the competent parent if one (1) is incompetent, or the other parent if one (1) parent is imprisoned for a felony, or the parent to whom the custody of the child has been awarded by a court of competent jurisdiction if the parents are divorced or living apart, or the natural mother of an illegitimate child, shall be the natural guardian of the person of each unmarried minor child of the parents and shall have the care and management of the estate of each such minor derived by gift from the parents or either of them, without the necessity of judicial appointment. (b) However, upon a showing of a necessity therefor to protect the interests of the minor, the court may appoint a statutory guardian of the estate of the minor, and when appointed and qualified, the statutory guardian shall have exclusive control over the estate of the minor. (c) The court may appoint the natural guardian as guardian of the estate of the minor. Acts 1985, No. 940; § 50; A.S.A. 1947, § 57-869.

(a) The parents of a minor, jointly with equal authority if they are husband and wife living together, or the survivor if one (1) parent is dead, or the competent parent if one (1) is incompetent, or the other parent if one (1) parent is imprisoned for a felony, or the parent to whom the custody of the child has been awarded by a court of competent jurisdiction if the parents are divorced or living apart, or the natural mother of an illegitimate child, shall be the natural guardian of the person of each unmarried minor child of the parents and shall have the care and management of the estate of each such minor derived by gift from the parents or either of them, without the necessity of judicial appointment.

(b) However, upon a showing of a necessity therefor to protect the interests of the minor, the court may appoint a statutory guardian of the estate of the minor, and when appointed and qualified, the statutory guardian shall have exclusive control over the estate of the minor.

(c) The court may appoint the natural guardian as guardian of the estate of the minor.

Acts 1985, No. 940; § 50; A.S.A. 1947, § 57-869.
Ark. Code Ann. § 28-50-104 — AR Code / Title 28 / Chapter 50 / Section 28-50-104
Presentation and filing of claims
Status: in_force

(a) (1) A person having a claim against an estate may present it to the personal representative, properly verified, for approval. (2) The personal representative shall endorse upon the claim the date of the presentation to him or her, his or her approval or disapproval of the claim, and, if approved, the classification of the claim, and he or she shall sign the endorsement. (3) A claim approved by the personal representative must be filed with the court by or on behalf of the claimant within thirty (30) days after the expiration of six (6) months from the date of the first publication of the notice to creditors or it shall be barred, as provided in § 28-50-101 . (4) A claim, disapproved or not acted upon by the personal representative, must be filed with the court by or on behalf of the claimant within the period fixed by § 28-50-101 or within thirty (30) days after the date of its presentation to the personal representative, whichever shall be the later date, or it shall be barred, as provided in § 28-50-101 . (b) As an alternative to the procedure set forth in subsection (a) of this section, a person having a claim against an estate may file it with the court, whereupon the clerk shall notify the personal representative, by ordinary mail, of the filing of the claim. Acts 1949, No. 140, § 113; 1967, No. 287, § 9; A.S.A. 1947, § 62-2604.

(a) (1) A person having a claim against an estate may present it to the personal representative, properly verified, for approval. (2) The personal representative shall endorse upon the claim the date of the presentation to him or her, his or her approval or disapproval of the claim, and, if approved, the classification of the claim, and he or she shall sign the endorsement. (3) A claim approved by the personal representative must be filed with the court by or on behalf of the claimant within thirty (30) days after the expiration of six (6) months from the date of the first publication of the notice to creditors or it shall be barred, as provided in § 28-50-101 . (4) A claim, disapproved or not acted upon by the personal representative, must be filed with the court by or on behalf of the claimant within the period fixed by § 28-50-101 or within thirty (30) days after the date of its presentation to the personal representative, whichever shall be the later date, or it shall be barred, as provided in § 28-50-101 .

(1) A person having a claim against an estate may present it to the personal representative, properly verified, for approval.

(2) The personal representative shall endorse upon the claim the date of the presentation to him or her, his or her approval or disapproval of the claim, and, if approved, the classification of the claim, and he or she shall sign the endorsement.

(3) A claim approved by the personal representative must be filed with the court by or on behalf of the claimant within thirty (30) days after the expiration of six (6) months from the date of the first publication of the notice to creditors or it shall be barred, as provided in § 28-50-101 .

(4) A claim, disapproved or not acted upon by the personal representative, must be filed with the court by or on behalf of the claimant within the period fixed by § 28-50-101 or within thirty (30) days after the date of its presentation to the personal representative, whichever shall be the later date, or it shall be barred, as provided in § 28-50-101 .

(b) As an alternative to the procedure set forth in subsection (a) of this section, a person having a claim against an estate may file it with the court, whereupon the clerk shall notify the personal representative, by ordinary mail, of the filing of the claim.

Acts 1949, No. 140, § 113; 1967, No. 287, § 9; A.S.A. 1947, § 62-2604.
Ark. Code Ann. § 28-73-816 — AR Code / Title 28 / Chapter 73 / Subchapter 8 / Section 28-73-816
Specific powers of trustee
Status: in_force

Without limiting the authority conferred by § 28-73-815 , a trustee may: (1) collect trust property and accept or reject additions to the trust property from a settlor or any other person; (2) acquire or sell property, for cash or on credit, at public or private sale; (3) exchange, partition, or otherwise change the character of trust property; (4) deposit trust money in an account in a regulated financial service institution; (5) borrow money, with or without security, and mortgage or pledge trust property for a period within or extending beyond the duration of the trust; (6) with respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or other form of business or enterprise, continue the business or other enterprise and take any action that may be taken by shareholders, members, or property owners, including merging, dissolving, or otherwise changing the form of a business organization or contributing additional capital; (7) with respect to stocks or other securities, exercise the rights of an absolute owner, including the right to: (A) vote, or give proxies to vote, with or without power of substitution, or enter into or continue a voting trust agreement; (B) hold a security in the name of a nominee or in other form without disclosure of the trust so that title may pass by delivery; (C) pay calls, assessments, and other sums chargeable or accruing against the securities and sell or exercise stock subscription or conversion rights; and (D) deposit the securities with a depositary or other regulated financial service institution; (8) with respect to an interest in real property, construct, or make ordinary or extraordinary repairs to, alterations to, or improvements in, buildings or other structures, demolish improvements, raze existing or erect new party walls or buildings, subdivide or develop land, dedicate land to public use or grant public or private easements, and make or vacate plats and adjust boundaries; (9) enter into a lease for any purpose as lessor or lessee, including a lease or other arrangement for exploration and removal of natural resources, with or without the option to purchase or renew, for a period within or extending beyond the duration of the trust; (10) grant an option involving a sale, lease, or other disposition of trust property or acquire an option for the acquisition of property, including an option exercisable beyond the duration of the trust, and exercise an option so acquired; (11) insure the property of the trust against damage or loss and insure the trustee, the trustee's agents, and beneficiaries against liability arising from the administration of the trust; (12) abandon or decline to administer property of no value or of insufficient value to justify its collection or continued administration; (13) with respect to possible liability for violation of environmental law: (A) inspect or investigate property the trustee holds or has been asked to hold, or property owned or operated by an organization in which the trustee holds or has been asked to hold an interest, for the purpose of determining the application of environmental law with respect to the property; (B) take action to prevent, abate, or otherwise remedy any actual or potential violation of any environmental law affecting property held directly or indirectly by the trustee, whether taken before or after the assertion of a claim or the initiation of governmental enforcement; (C) decline to accept property into trust or disclaim any power with respect to property that is or may be burdened with liability for violation of environmental law; (D) compromise claims against the trust which may be asserted for an alleged violation of environmental law; and (E) pay the expense of any inspection, review, abatement, or remedial action to comply with environmental law; (14) pay or contest any claim, settle a claim by or against the trust, and release, in whole or in part, a claim belonging to the trust; (15) pay taxes, assessments, compensation of the trustee and of employees and agents of the trust, and other expenses incurred in the administration of the trust; (16) exercise elections with respect to federal, state, and local taxes; (17) select a mode of payment under any employee benefit or retirement plan, annuity, or life insurance payable to the trustee, exercise rights thereunder, including exercise of the right to indemnification for expenses and against liabilities, and take appropriate action to collect the proceeds; (18) make loans out of trust property, including loans to a beneficiary on terms and conditions the trustee considers to be fair and reasonable under the circumstances, and the trustee has a lien on future distributions for repayment of those loans; (19) pledge trust property to guarantee loans made by others to the beneficiary; (20) appoint a trustee to act in another jurisdiction with respect to trust property located in the other jurisdiction, confer upon the appointed trustee all of the powers and duties of the appointing trustee, require that the appointed trustee furnish security, and remove any trustee so appointed; (21) pay an amount distributable to a beneficiary who is under a legal disability or who the trustee reasonably believes is incapacitated, by paying it directly to the beneficiary or applying it for the beneficiary's benefit, or by: (A) paying it to the beneficiary's conservator or, if the beneficiary does not have a conservator, the beneficiary's guardian; (B) paying it to the beneficiary's custodian under the Arkansas Uniform Transfers to Minors Act, § 9-26-201 et seq., or custodial trustee under the Arkansas Custodial Trust Act, § 28-72-401 et seq., and, for that purpose, creating a custodianship or custodial trust; (C) if the trustee does not know of a conservator, guardian, custodian, or custodial trustee, paying it to an adult relative or other person having legal or physical care or custody of the beneficiary, to be expended on the beneficiary's behalf; or (D) managing it as a separate fund on the beneficiary's behalf, subject to the beneficiary's continuing right to withdraw the distribution; (22) on distribution of trust property or the division or termination of a trust, make distributions in divided or undivided interests, allocate particular assets in proportionate or disproportionate shares, value the trust property for those purposes, and adjust for resulting differences in valuation; (23) resolve a dispute concerning the interpretation of the trust or its administration by mediation, arbitration, or other procedure for alternative dispute resolution; (24) prosecute or defend an action, claim, or judicial proceeding in any jurisdiction to protect trust property and the trustee in the performance of the trustee's duties; (25) sign and deliver contracts and other instruments that are useful to achieve or facilitate the exercise of the trustee's powers; and (26) on termination of the trust, exercise the powers appropriate to wind up the administration of the trust and distribute the trust property to the persons entitled to it. Acts 2005, No. 1031, § 1.

Without limiting the authority conferred by § 28-73-815 , a trustee may:

(1) collect trust property and accept or reject additions to the trust property from a settlor or any other person;

(2) acquire or sell property, for cash or on credit, at public or private sale;

(3) exchange, partition, or otherwise change the character of trust property;

(4) deposit trust money in an account in a regulated financial service institution;

(5) borrow money, with or without security, and mortgage or pledge trust property for a period within or extending beyond the duration of the trust;

(6) with respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or other form of business or enterprise, continue the business or other enterprise and take any action that may be taken by shareholders, members, or property owners, including merging, dissolving, or otherwise changing the form of a business organization or contributing additional capital;

(7) with respect to stocks or other securities, exercise the rights of an absolute owner, including the right to: (A) vote, or give proxies to vote, with or without power of substitution, or enter into or continue a voting trust agreement; (B) hold a security in the name of a nominee or in other form without disclosure of the trust so that title may pass by delivery; (C) pay calls, assessments, and other sums chargeable or accruing against the securities and sell or exercise stock subscription or conversion rights; and (D) deposit the securities with a depositary or other regulated financial service institution;

(A) vote, or give proxies to vote, with or without power of substitution, or enter into or continue a voting trust agreement;

(B) hold a security in the name of a nominee or in other form without disclosure of the trust so that title may pass by delivery;

(C) pay calls, assessments, and other sums chargeable or accruing against the securities and sell or exercise stock subscription or conversion rights; and

(D) deposit the securities with a depositary or other regulated financial service institution;

(8) with respect to an interest in real property, construct, or make ordinary or extraordinary repairs to, alterations to, or improvements in, buildings or other structures, demolish improvements, raze existing or erect new party walls or buildings, subdivide or develop land, dedicate land to public use or grant public or private easements, and make or vacate plats and adjust boundaries;

(9) enter into a lease for any purpose as lessor or lessee, including a lease or other arrangement for exploration and removal of natural resources, with or without the option to purchase or renew, for a period within or extending beyond the duration of the trust;

(10) grant an option involving a sale, lease, or other disposition of trust property or acquire an option for the acquisition of property, including an option exercisable beyond the duration of the trust, and exercise an option so acquired;

(11) insure the property of the trust against damage or loss and insure the trustee, the trustee's agents, and beneficiaries against liability arising from the administration of the trust;

(12) abandon or decline to administer property of no value or of insufficient value to justify its collection or continued administration;

(13) with respect to possible liability for violation of environmental law: (A) inspect or investigate property the trustee holds or has been asked to hold, or property owned or operated by an organization in which the trustee holds or has been asked to hold an interest, for the purpose of determining the application of environmental law with respect to the property; (B) take action to prevent, abate, or otherwise remedy any actual or potential violation of any environmental law affecting property held directly or indirectly by the trustee, whether taken before or after the assertion of a claim or the initiation of governmental enforcement; (C) decline to accept property into trust or disclaim any power with respect to property that is or may be burdened with liability for violation of environmental law; (D) compromise claims against the trust which may be asserted for an alleged violation of environmental law; and (E) pay the expense of any inspection, review, abatement, or remedial action to comply with environmental law;

(A) inspect or investigate property the trustee holds or has been asked to hold, or property owned or operated by an organization in which the trustee holds or has been asked to hold an interest, for the purpose of determining the application of environmental law with respect to the property;

(B) take action to prevent, abate, or otherwise remedy any actual or potential violation of any environmental law affecting property held directly or indirectly by the trustee, whether taken before or after the assertion of a claim or the initiation of governmental enforcement;

(C) decline to accept property into trust or disclaim any power with respect to property that is or may be burdened with liability for violation of environmental law;

(D) compromise claims against the trust which may be asserted for an alleged violation of environmental law; and

(E) pay the expense of any inspection, review, abatement, or remedial action to comply with environmental law;

(14) pay or contest any claim, settle a claim by or against the trust, and release, in whole or in part, a claim belonging to the trust;

(15) pay taxes, assessments, compensation of the trustee and of employees and agents of the trust, and other expenses incurred in the administration of the trust;

(16) exercise elections with respect to federal, state, and local taxes;

(17) select a mode of payment under any employee benefit or retirement plan, annuity, or life insurance payable to the trustee, exercise rights thereunder, including exercise of the right to indemnification for expenses and against liabilities, and take appropriate action to collect the proceeds;

(18) make loans out of trust property, including loans to a beneficiary on terms and conditions the trustee considers to be fair and reasonable under the circumstances, and the trustee has a lien on future distributions for repayment of those loans;

(19) pledge trust property to guarantee loans made by others to the beneficiary;

(20) appoint a trustee to act in another jurisdiction with respect to trust property located in the other jurisdiction, confer upon the appointed trustee all of the powers and duties of the appointing trustee, require that the appointed trustee furnish security, and remove any trustee so appointed;

(21) pay an amount distributable to a beneficiary who is under a legal disability or who the trustee reasonably believes is incapacitated, by paying it directly to the beneficiary or applying it for the beneficiary's benefit, or by: (A) paying it to the beneficiary's conservator or, if the beneficiary does not have a conservator, the beneficiary's guardian; (B) paying it to the beneficiary's custodian under the Arkansas Uniform Transfers to Minors Act, § 9-26-201 et seq., or custodial trustee under the Arkansas Custodial Trust Act, § 28-72-401 et seq., and, for that purpose, creating a custodianship or custodial trust; (C) if the trustee does not know of a conservator, guardian, custodian, or custodial trustee, paying it to an adult relative or other person having legal or physical care or custody of the beneficiary, to be expended on the beneficiary's behalf; or (D) managing it as a separate fund on the beneficiary's behalf, subject to the beneficiary's continuing right to withdraw the distribution;

(A) paying it to the beneficiary's conservator or, if the beneficiary does not have a conservator, the beneficiary's guardian;

(B) paying it to the beneficiary's custodian under the Arkansas Uniform Transfers to Minors Act, § 9-26-201 et seq., or custodial trustee under the Arkansas Custodial Trust Act, § 28-72-401 et seq., and, for that purpose, creating a custodianship or custodial trust;

(C) if the trustee does not know of a conservator, guardian, custodian, or custodial trustee, paying it to an adult relative or other person having legal or physical care or custody of the beneficiary, to be expended on the beneficiary's behalf; or

(D) managing it as a separate fund on the beneficiary's behalf, subject to the beneficiary's continuing right to withdraw the distribution;

(22) on distribution of trust property or the division or termination of a trust, make distributions in divided or undivided interests, allocate particular assets in proportionate or disproportionate shares, value the trust property for those purposes, and adjust for resulting differences in valuation;

(23) resolve a dispute concerning the interpretation of the trust or its administration by mediation, arbitration, or other procedure for alternative dispute resolution;

(24) prosecute or defend an action, claim, or judicial proceeding in any jurisdiction to protect trust property and the trustee in the performance of the trustee's duties;

(25) sign and deliver contracts and other instruments that are useful to achieve or facilitate the exercise of the trustee's powers; and

(26) on termination of the trust, exercise the powers appropriate to wind up the administration of the trust and distribute the trust property to the persons entitled to it.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-65-205 — AR Code / Title 28 / Chapter 65 / Subchapter 2 / Section 28-65-205
Petition
Status: in_force

(a) Any person may file a petition for the appointment of himself or herself or some other qualified person as guardian of an incapacitated person. (b) The petition shall state, insofar as can be ascertained: (1) The name, age, residence, and post office address of the incapacitated person; (2) The nature of incapacity and purpose of the guardianship sought in accordance with the classifications set forth in § 28-65-104 ; (3) The approximate value and a description of the incapacitated person's property, including any compensation, pension, insurance, or allowance to which he or she may be entitled; (4) Whether there is, in any state, a guardian of the person or of the estate of the incompetent; (5) The residence and post office address of the person whom the petitioner asks to be appointed guardian; (6) The names and addresses, so far as known or can be reasonably ascertained, of the persons most closely related to the incapacitated person by blood or marriage; (7) The name and address of the person or institution having the care and custody of the incapacitated person; (8) The names and addresses of wards for whom any natural person whose appointment is sought is already guardian; (9) The reasons why the appointment of a guardian is sought and the interest of the petitioner in the appointment; (10) A statement of the respondent's alleged disability; (11) A recommendation proposing the type, scope, and duration of guardianship; (12) A statement that any facility or agency from which the respondent is receiving services has been notified of the proceedings; and (13) The names and addresses of others having knowledge about the person's disability. Acts 1985, No. 940, § 10; A.S.A. 1947, § 57-829.

(a) Any person may file a petition for the appointment of himself or herself or some other qualified person as guardian of an incapacitated person.

(b) The petition shall state, insofar as can be ascertained: (1) The name, age, residence, and post office address of the incapacitated person; (2) The nature of incapacity and purpose of the guardianship sought in accordance with the classifications set forth in § 28-65-104 ; (3) The approximate value and a description of the incapacitated person's property, including any compensation, pension, insurance, or allowance to which he or she may be entitled; (4) Whether there is, in any state, a guardian of the person or of the estate of the incompetent; (5) The residence and post office address of the person whom the petitioner asks to be appointed guardian; (6) The names and addresses, so far as known or can be reasonably ascertained, of the persons most closely related to the incapacitated person by blood or marriage; (7) The name and address of the person or institution having the care and custody of the incapacitated person; (8) The names and addresses of wards for whom any natural person whose appointment is sought is already guardian; (9) The reasons why the appointment of a guardian is sought and the interest of the petitioner in the appointment; (10) A statement of the respondent's alleged disability; (11) A recommendation proposing the type, scope, and duration of guardianship; (12) A statement that any facility or agency from which the respondent is receiving services has been notified of the proceedings; and (13) The names and addresses of others having knowledge about the person's disability.

(1) The name, age, residence, and post office address of the incapacitated person;

(2) The nature of incapacity and purpose of the guardianship sought in accordance with the classifications set forth in § 28-65-104 ;

(3) The approximate value and a description of the incapacitated person's property, including any compensation, pension, insurance, or allowance to which he or she may be entitled;

(4) Whether there is, in any state, a guardian of the person or of the estate of the incompetent;

(5) The residence and post office address of the person whom the petitioner asks to be appointed guardian;

(6) The names and addresses, so far as known or can be reasonably ascertained, of the persons most closely related to the incapacitated person by blood or marriage;

(7) The name and address of the person or institution having the care and custody of the incapacitated person;

(8) The names and addresses of wards for whom any natural person whose appointment is sought is already guardian;

(9) The reasons why the appointment of a guardian is sought and the interest of the petitioner in the appointment;

(10) A statement of the respondent's alleged disability;

(11) A recommendation proposing the type, scope, and duration of guardianship;

(12) A statement that any facility or agency from which the respondent is receiving services has been notified of the proceedings; and

(13) The names and addresses of others having knowledge about the person's disability.

Acts 1985, No. 940, § 10; A.S.A. 1947, § 57-829.
Ark. Code Ann. § 28-73-105 — AR Code / Title 28 / Chapter 73 / Subchapter 1 / Section 28-73-105
Default and mandatory rules
Status: in_force

(a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision of this chapter except: (1) the requirements for creating a trust; (2) subject to §§ 28-76-109 , 28-76-111 , and 28-76-112 of the Uniform Directed Trust Act, § 28-76-101 et seq., the duty of a trustee to act in good faith and in accordance with the purposes of the trust; (3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; (4) the power of a court to modify or terminate a trust under §§ 28-73-410 - 28-73-416 ; (5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in § 28-73-501 et seq.; (6) the power of a court under § 28-73-702 to require, dispense with, or modify or terminate a bond; (7) the power of a court under § 28-73-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high; (8) the rights under §§ 28-73-1010 - 28-73-1013 of a person other than a trustee or beneficiary; (9) periods of limitation for commencing a judicial proceeding; (10) the power of a court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and (11) the subject-matter jurisdiction of a court for commencing a proceeding as provided in § 28-73-203 . Amended by Act 2019, No. 1021,§ 2, eff. 1/1/2020. Acts 2005, No. 1031, § 1.

(a) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.

(b) The terms of a trust prevail over any provision of this chapter except: (1) the requirements for creating a trust; (2) subject to §§ 28-76-109 , 28-76-111 , and 28-76-112 of the Uniform Directed Trust Act, § 28-76-101 et seq., the duty of a trustee to act in good faith and in accordance with the purposes of the trust; (3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve; (4) the power of a court to modify or terminate a trust under §§ 28-73-410 - 28-73-416 ; (5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in § 28-73-501 et seq.; (6) the power of a court under § 28-73-702 to require, dispense with, or modify or terminate a bond; (7) the power of a court under § 28-73-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high; (8) the rights under §§ 28-73-1010 - 28-73-1013 of a person other than a trustee or beneficiary; (9) periods of limitation for commencing a judicial proceeding; (10) the power of a court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and (11) the subject-matter jurisdiction of a court for commencing a proceeding as provided in § 28-73-203 .

(1) the requirements for creating a trust;

(2) subject to §§ 28-76-109 , 28-76-111 , and 28-76-112 of the Uniform Directed Trust Act, § 28-76-101 et seq., the duty of a trustee to act in good faith and in accordance with the purposes of the trust;

(3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;

(4) the power of a court to modify or terminate a trust under §§ 28-73-410 - 28-73-416 ;

(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in § 28-73-501 et seq.;

(6) the power of a court under § 28-73-702 to require, dispense with, or modify or terminate a bond;

(7) the power of a court under § 28-73-708(b) to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;

(8) the rights under §§ 28-73-1010 - 28-73-1013 of a person other than a trustee or beneficiary;

(9) periods of limitation for commencing a judicial proceeding;

(10) the power of a court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and

(11) the subject-matter jurisdiction of a court for commencing a proceeding as provided in § 28-73-203 .

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

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-73-701 — AR Code / Title 28 / Chapter 73 / Subchapter 7 / Section 28-73-701
Accepting or declining trusteeship
Status: in_force

(a) Except as otherwise provided in subsection (c), a person designated as trustee accepts the trusteeship: (1) by substantially complying with a method of acceptance provided in the terms of the trust; or (2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship. (b) A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship. (c) A person designated as trustee, without accepting the trusteeship, may: (1) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and (2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose. Acts 2005, No. 1031, § 1.

(a) Except as otherwise provided in subsection (c), a person designated as trustee accepts the trusteeship: (1) by substantially complying with a method of acceptance provided in the terms of the trust; or (2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

(1) by substantially complying with a method of acceptance provided in the terms of the trust; or

(2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

(b) A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.

(c) A person designated as trustee, without accepting the trusteeship, may: (1) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and (2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.

(1) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and

(2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.

Acts 2005, No. 1031, § 1.
Ark. Code Ann. § 28-68-204 — AR Code / Title 28 / Chapter 68 / Subchapter 2 / Section 28-68-204
Real property
Status: in_force

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to: (1) demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject an interest in real property or a right incident to real property; (2) sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; retain title for security; encumber; partition; consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or other governmental permits; plat or consent to platting; develop; grant an option concerning; lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise grant or dispose of an interest in real property or a right incident to real property; (3) pledge or mortgage an interest in real property or right incident to real property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal; (4) release, assign, satisfy, or enforce by litigation or otherwise a mortgage, deed of trust, conditional sale contract, encumbrance, lien, or other claim to real property which exists or is asserted; (5) manage or conserve an interest in real property or a right incident to real property owned or claimed to be owned by the principal, including: (A) insuring against liability or casualty or other loss; (B) obtaining or regaining possession of or protecting the interest or right by litigation or otherwise; (C) paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with them; and (D) purchasing supplies, hiring assistance or labor, and making repairs or alterations to the real property; (6) use, develop, alter, replace, remove, erect, or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right; (7) participate in a reorganization with respect to real property or an entity that owns an interest in or right incident to real property and receive, and hold, and act with respect to stocks and bonds or other property received in a plan of reorganization, including: (A) selling or otherwise disposing of them; (B) exercising or selling an option, right of conversion, or similar right with respect to them; and (C) exercising any voting rights in person or by proxy; (8) change the form of title of an interest in or right incident to real property; and (9) dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest. Acts 2011, No. 805, § 1.

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to:

(1) demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject an interest in real property or a right incident to real property;

(2) sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; retain title for security; encumber; partition; consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or other governmental permits; plat or consent to platting; develop; grant an option concerning; lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise grant or dispose of an interest in real property or a right incident to real property;

(3) pledge or mortgage an interest in real property or right incident to real property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(4) release, assign, satisfy, or enforce by litigation or otherwise a mortgage, deed of trust, conditional sale contract, encumbrance, lien, or other claim to real property which exists or is asserted;

(5) manage or conserve an interest in real property or a right incident to real property owned or claimed to be owned by the principal, including: (A) insuring against liability or casualty or other loss; (B) obtaining or regaining possession of or protecting the interest or right by litigation or otherwise; (C) paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with them; and (D) purchasing supplies, hiring assistance or labor, and making repairs or alterations to the real property;

(A) insuring against liability or casualty or other loss;

(B) obtaining or regaining possession of or protecting the interest or right by litigation or otherwise;

(C) paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with them; and

(D) purchasing supplies, hiring assistance or labor, and making repairs or alterations to the real property;

(6) use, develop, alter, replace, remove, erect, or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right;

(7) participate in a reorganization with respect to real property or an entity that owns an interest in or right incident to real property and receive, and hold, and act with respect to stocks and bonds or other property received in a plan of reorganization, including: (A) selling or otherwise disposing of them; (B) exercising or selling an option, right of conversion, or similar right with respect to them; and (C) exercising any voting rights in person or by proxy;

(A) selling or otherwise disposing of them;

(B) exercising or selling an option, right of conversion, or similar right with respect to them; and

(C) exercising any voting rights in person or by proxy;

(8) change the form of title of an interest in or right incident to real property; and

(9) dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest.

Acts 2011, No. 805, § 1.
Ark. Code Ann. § 28-53-101 — AR Code / Title 28 / Chapter 53 / Subchapter 1 / Section 28-53-101
Determination of heirship
Status: in_force

(a) Right to Bring Proceedings. Whenever a person has died leaving in this state property or an interest therein, a person claiming an interest in the property as heir or distributee, or a person claiming through an heir or distributee, or the personal representative of the decedent may file a petition in the circuit court of proper venue for the administration of the decedent's estate to determine the heirs and distributees of the decedent and their respective interests in the estate or the property. (b) Contents of Petition. The petition shall state: (1) The name, age, domicile, and date of death of the decedent; (2) The names, relationship, if any, to the decedent, age, and residential address of any heirs and distributees, and every person claiming any interest in the property through an heir or distributee as far as is known or can with reasonable diligence be ascertained; (3) A description of the property with respect to which the determination is sought; (4) The approximate net value of the estate; (5) Whether the decedent died testate or intestate and, if testate, a copy of the will and a certificate of probate thereof shall be attached unless probated in the county in which the petition is filed; and (6) Whether an administration of the estate is pending or has been completed and, if so, in what court. (c) Procedure. (1) (A) Upon the filing of the petition, the court shall fix the time for the hearing thereof, notice of which shall be given to: (i) All persons known or believed to claim an interest in the property as heir, or through an heir of the decedent, or as a distributee; (ii) All persons who, at the date of the filing of the petition, may be shown by the records of conveyances of the county in which any real property described in the petition is located to claim an interest therein through the heirs or distributees of the decedent; and (iii) Any unknown heirs or distributees of the decedent. (B) The notice shall be given by publication and, in addition, personal notice or notice by registered mail shall be given to every such person whose address is known to the petitioner. (2) Upon satisfactory proof, the court shall enter an order determining the heirs and distributees. (d) Effect of Order. (1) The order shall be conclusive upon all parties to the proceeding having or claiming an interest in the property, subject to the right of appeal, and may be set aside only upon such grounds and under such circumstances and in the manner provided by law for setting aside the final judgment or decree of a court of general jurisdiction. (2) However, upon the petition of any person not personally served with notice who may have or claim an interest in the property involved having filed within three (3) years after the date of the rendition of the order or, in the case of a person under disability or incompetency or being beyond the seas, having filed within three (3) years after such a disability is removed, when the request is for good cause stated in the petition and proved to the satisfaction of the court, the court rendering the order may vacate or modify the order insofar as it affects the interests of the person. Acts 1949, No. 140, § 173; 1967, No. 287, § 17; A.S.A. 1947, § 62-2914.

(a) Right to Bring Proceedings. Whenever a person has died leaving in this state property or an interest therein, a person claiming an interest in the property as heir or distributee, or a person claiming through an heir or distributee, or the personal representative of the decedent may file a petition in the circuit court of proper venue for the administration of the decedent's estate to determine the heirs and distributees of the decedent and their respective interests in the estate or the property.

(b) Contents of Petition. The petition shall state: (1) The name, age, domicile, and date of death of the decedent; (2) The names, relationship, if any, to the decedent, age, and residential address of any heirs and distributees, and every person claiming any interest in the property through an heir or distributee as far as is known or can with reasonable diligence be ascertained; (3) A description of the property with respect to which the determination is sought; (4) The approximate net value of the estate; (5) Whether the decedent died testate or intestate and, if testate, a copy of the will and a certificate of probate thereof shall be attached unless probated in the county in which the petition is filed; and (6) Whether an administration of the estate is pending or has been completed and, if so, in what court.

(1) The name, age, domicile, and date of death of the decedent;

(2) The names, relationship, if any, to the decedent, age, and residential address of any heirs and distributees, and every person claiming any interest in the property through an heir or distributee as far as is known or can with reasonable diligence be ascertained;

(3) A description of the property with respect to which the determination is sought;

(4) The approximate net value of the estate;

(5) Whether the decedent died testate or intestate and, if testate, a copy of the will and a certificate of probate thereof shall be attached unless probated in the county in which the petition is filed; and

(6) Whether an administration of the estate is pending or has been completed and, if so, in what court.

(c) Procedure. (1) (A) Upon the filing of the petition, the court shall fix the time for the hearing thereof, notice of which shall be given to: (i) All persons known or believed to claim an interest in the property as heir, or through an heir of the decedent, or as a distributee; (ii) All persons who, at the date of the filing of the petition, may be shown by the records of conveyances of the county in which any real property described in the petition is located to claim an interest therein through the heirs or distributees of the decedent; and (iii) Any unknown heirs or distributees of the decedent. (B) The notice shall be given by publication and, in addition, personal notice or notice by registered mail shall be given to every such person whose address is known to the petitioner. (2) Upon satisfactory proof, the court shall enter an order determining the heirs and distributees.

(1) (A) Upon the filing of the petition, the court shall fix the time for the hearing thereof, notice of which shall be given to: (i) All persons known or believed to claim an interest in the property as heir, or through an heir of the decedent, or as a distributee; (ii) All persons who, at the date of the filing of the petition, may be shown by the records of conveyances of the county in which any real property described in the petition is located to claim an interest therein through the heirs or distributees of the decedent; and (iii) Any unknown heirs or distributees of the decedent. (B) The notice shall be given by publication and, in addition, personal notice or notice by registered mail shall be given to every such person whose address is known to the petitioner.

(A) Upon the filing of the petition, the court shall fix the time for the hearing thereof, notice of which shall be given to: (i) All persons known or believed to claim an interest in the property as heir, or through an heir of the decedent, or as a distributee; (ii) All persons who, at the date of the filing of the petition, may be shown by the records of conveyances of the county in which any real property described in the petition is located to claim an interest therein through the heirs or distributees of the decedent; and (iii) Any unknown heirs or distributees of the decedent.

(i) All persons known or believed to claim an interest in the property as heir, or through an heir of the decedent, or as a distributee;

(ii) All persons who, at the date of the filing of the petition, may be shown by the records of conveyances of the county in which any real property described in the petition is located to claim an interest therein through the heirs or distributees of the decedent; and

(iii) Any unknown heirs or distributees of the decedent.

(B) The notice shall be given by publication and, in addition, personal notice or notice by registered mail shall be given to every such person whose address is known to the petitioner.

(2) Upon satisfactory proof, the court shall enter an order determining the heirs and distributees.

(d) Effect of Order. (1) The order shall be conclusive upon all parties to the proceeding having or claiming an interest in the property, subject to the right of appeal, and may be set aside only upon such grounds and under such circumstances and in the manner provided by law for setting aside the final judgment or decree of a court of general jurisdiction. (2) However, upon the petition of any person not personally served with notice who may have or claim an interest in the property involved having filed within three (3) years after the date of the rendition of the order or, in the case of a person under disability or incompetency or being beyond the seas, having filed within three (3) years after such a disability is removed, when the request is for good cause stated in the petition and proved to the satisfaction of the court, the court rendering the order may vacate or modify the order insofar as it affects the interests of the person.

(1) The order shall be conclusive upon all parties to the proceeding having or claiming an interest in the property, subject to the right of appeal, and may be set aside only upon such grounds and under such circumstances and in the manner provided by law for setting aside the final judgment or decree of a court of general jurisdiction.

(2) However, upon the petition of any person not personally served with notice who may have or claim an interest in the property involved having filed within three (3) years after the date of the rendition of the order or, in the case of a person under disability or incompetency or being beyond the seas, having filed within three (3) years after such a disability is removed, when the request is for good cause stated in the petition and proved to the satisfaction of the court, the court rendering the order may vacate or modify the order insofar as it affects the interests of the person.

Acts 1949, No. 140, § 173; 1967, No. 287, § 17; A.S.A. 1947, § 62-2914.
Ark. Code Ann. § 28-65-602 — AR Code / Title 28 / Chapter 65 / Subchapter 6 / Section 28-65-602
Grant or denial of petition to act in Arkansas - Effect
Status: in_force

(a) Upon being satisfied that the foreign guardian is duly appointed, qualified, and acting, that his or her bond is sufficient under the laws of the jurisdiction of his or her appointment to protect the property of the ward within the jurisdiction and the property within this state, or its proceeds, or that no bond is required in the jurisdiction of his or her appointment, and that the action ordered to be taken is in the best interest of the ward and his or her estate, the court may, if there is no locally appointed guardian, grant the petition, in whole or in part, and direct the foreign guardian to proceed with the directed action in the same manner as is provided for similar action by a resident guardian of the estate or a resident ward. (b) If there is a locally appointed guardian, and upon the same findings as to the qualifications of the foreign guardian and the sufficiency of his or her bond, if any, the court, in the exercise of its discretion, may: (1) Order the termination of the local guardianship and the payment, transfer, or delivery of the property of the ward to the foreign guardian and grant the petition of the foreign guardian, in whole or in part; or (2) Order the local guardian to take the action, in whole or in part, for which the foreign guardian asked authority; or (3) Deny the petition. (c) If the court orders the termination of the local guardianship, the local guardian shall file his or her account immediately. Acts 1985, No. 940, § 51; A.S.A. 1947, § 57-870.

(a) Upon being satisfied that the foreign guardian is duly appointed, qualified, and acting, that his or her bond is sufficient under the laws of the jurisdiction of his or her appointment to protect the property of the ward within the jurisdiction and the property within this state, or its proceeds, or that no bond is required in the jurisdiction of his or her appointment, and that the action ordered to be taken is in the best interest of the ward and his or her estate, the court may, if there is no locally appointed guardian, grant the petition, in whole or in part, and direct the foreign guardian to proceed with the directed action in the same manner as is provided for similar action by a resident guardian of the estate or a resident ward.

(b) If there is a locally appointed guardian, and upon the same findings as to the qualifications of the foreign guardian and the sufficiency of his or her bond, if any, the court, in the exercise of its discretion, may: (1) Order the termination of the local guardianship and the payment, transfer, or delivery of the property of the ward to the foreign guardian and grant the petition of the foreign guardian, in whole or in part; or (2) Order the local guardian to take the action, in whole or in part, for which the foreign guardian asked authority; or (3) Deny the petition.

(1) Order the termination of the local guardianship and the payment, transfer, or delivery of the property of the ward to the foreign guardian and grant the petition of the foreign guardian, in whole or in part; or

(2) Order the local guardian to take the action, in whole or in part, for which the foreign guardian asked authority; or

(3) Deny the petition.

(c) If the court orders the termination of the local guardianship, the local guardian shall file his or her account immediately.

Acts 1985, No. 940, § 51; A.S.A. 1947, § 57-870.
Ark. Code Ann. § 28-73-109 — AR Code / Title 28 / Chapter 73 / Subchapter 1 / Section 28-73-109
Methods and waiver of notice
Status: in_force

(a) Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed electronic message. (b) Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter need not be provided to a person whose identity or location is unknown to and not reasonably ascertainable by the trustee. (c) Notice under this chapter or the sending of a document under this chapter may be waived by the person to be notified or sent the document. (d) Notice of a judicial proceeding must be given as provided in the applicable rules of civil procedure. Acts 2005, No. 1031, § 1.

(a) Notice to a person under this chapter or the sending of a document to a person under this chapter must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed electronic message.

(b) Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter need not be provided to a person whose identity or location is unknown to and not reasonably ascertainable by the trustee.

(c) Notice under this chapter or the sending of a document under this chapter may be waived by the person to be notified or sent the document.

(d) Notice of a judicial proceeding must be given as provided in the applicable rules of civil procedure.

Acts 2005, No. 1031, § 1.