§ 28-73-410 - Modification or termination of trust -- Proceedings for approval or disapproval. - Arkansas Statutes

28-73-410. Modification or termination of trust -- Proceedings for approval or disapproval.

(a) In addition to the methods of termination prescribed by 28-73-411 -- 28-73-414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.

(b) A proceeding to approve or disapprove a proposed modification or termination under 28-73-411 -- 28-73-416, or trust combination or division under 28-73-417, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under 28-73-411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under 28-73-413.