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Kentucky Revised Statutes (Last Updated: May 10, 2014) |
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TITLE XXXIII. ADMINISTRATION OF TRUSTS AND ESTATES |
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CHAPTER 386. ADMINISTRATION OF TRUSTS -- LEGAL INVESTMENTS -- UNIFORM PRINCIPAL AND INCOME ACT |
Administration -- Investments |
010. Definitions for KRS 386.010 to 386.185. |
020. Authorized investments of trust funds -- Fiduciary to account for profits. |
023. Investment method alternatives. |
025. Restrictions on investment in own stock by bank or trust company acting as fiduciary. |
030. Investment of funds of financial institutions and funds in hands of public officials. |
040. Securities of certain federal agencies authorized as collateral. |
050. Housing authority obligations -- Authorized investments -- Security for public deposits -- Negotiable -- United States bonds. |
060. Investments not to be contrary to instrument creating trust. |
070. Disposition of unauthorized securities. |
080. Repealed, 1944. [Repealed] |
090. Repealed, 1980. [Repealed] |
093. Effect of disability, incapacity, or death on power of attorney, durable or otherwise. |
095. Execution and delivery of releases of powers exercisable by deed, will or otherwise. |
100. Application of payments made to a fiduciary. |
110. Transfer of a negotiable instrument by a fiduciary. |
120. Deposits in fiduciary's personal account. |
130. Deposits in name of fiduciary as such -- In name of principal. |
140. Checks drawn by a fiduciary payable to third person or to himself. |
150. Fiduciary not relieved of liability. |
160. Deposit of funds with joint control by surety and fiduciary. |
165. Deposit of securities in a clearing corporation -- Accounting and crediting of deposits. |
170. Nonresident trustee for personal property of nonresident beneficiary -- Power to act in this state. |
175. Trustee's power to appoint principal or income in favor of trustee of second trust -- Terms of second trust -- Special fiduciary -- Notice -- Judicial proceedings. |
180. Repealed, 2008. [Repealed] |
185. Distribution of trusts of $50,000 or less. |
Revised Uniform Principal and Income Act |
190. Repealed, 1992. [Repealed] |
191. Repealed, effective January 1, 2005. [Repealed] |
195. Repealed, effective January 1, 2005. [Repealed] |
200. Repealed, 1992. [Repealed] |
205. Repealed, effective January 1, 2005. [Repealed] |
210. Repealed, 1992. [Repealed] |
215. Repealed, effective January 1, 2005. [Repealed] |
220. Repealed, 1992. [Repealed] |
225. Repealed, effective January 1, 2005. [Repealed] |
230. Repealed, 1992. [Repealed] |
235. Repealed, effective January 1, 2005. [Repealed] |
240. Repealed, 1992. [Repealed] |
245. Repealed, effective January 1, 2005. [Repealed] |
250. Repealed, 1992. [Repealed] |
255. Repealed, effective January 1, 2005. [Repealed] |
260. Repealed, 1992. [Repealed] |
265. Repealed, effective January 1, 2005. [Repealed] |
270. Repealed, 1992. [Repealed] |
275. Repealed, effective January 1, 2005. [Repealed] |
280. Repealed, 1992. [Repealed] |
285. Repealed, effective January 1, 2005. [Repealed] |
290. Repealed, 1992. [Repealed] |
295. Repealed, effective January 1, 2005. [Repealed] |
300. Repealed, 1992. [Repealed] |
305. Repealed, effective January 1, 2005. [Repealed] |
310. Repealed, 1992. [Repealed] |
315. Repealed, effective January 1, 2005. [Repealed] |
320. Repealed, 1992. [Repealed] |
325. Repealed, effective January 1, 2005. [Repealed] |
330. Repealed, 1992 [Repealed] |
335. Repealed, effective January 1, 2005. [Repealed] |
340. Repealed, 1992. [Repealed] |
345. Repealed, effective January 1, 2005. [Repealed] |
349. Repealed, effective January 1, 2005. [Repealed] |
Private Foundations -- Charitable Trusts |
350. Definitions for KRS 386.355 and 386.360. |
355. Acts prohibited -- Policy of state regarding private foundations -- Split-interest trusts -- Charitable trusts. |
360. Trust instruments -- How amended. |
365. Distribution of assets upon dissolution -- Process for selection of receiving trust -- Assets available for distribution defined. |
Business Trusts |
370. Definition of business trust, business entity, and name of record. |
380. Establishment -- Lawful purposes. |
382. Name of business trust. |
384. Registered office -- Registered agent. |
386. Repealed, 2011. [Repealed] |
388. Repealed, 2011. [Repealed] |
390. Powers and liabilities of trustees -- Liability of trust for acts of trustees. |
392. Annual report. |
400. Certificates of ownership -- Liability of beneficial owners. |
410. Legality of foreign business trust. |
420. Contents and recordation of declaration of trust. |
430. Duration of business trust -- Rules against perpetuities and restraint of alienation not violated. |
432. Repealed, 2011. [Repealed] |
440. How business trust sued. |
441. Repealed, 2011. [Repealed] |
4420. Laws governing foreign business trust. |
4422. Transaction of business by foreign business trust. |
4424. Repealed, 2011. [Repealed] |
4426. Repealed, 2011. [Repealed] |
4428. Repealed, 2011. [Repealed] |
4430. Repealed, 2011. [Repealed] |
4432. Repealed, 2011. [Repealed] |
4434. Registered office and registered agent for foreign business trust. |
4436. Repealed, 2011. [Repealed] |
4438. Repealed, 2011. [Repealed] |
4440. Repealed, 2011. [Repealed] |
4442. Repealed, 2011. [Repealed] |
4444. Repealed, 2011. [Repealed] |
4446. Repealed, 2011. [Repealed] |
4448. Repealed, 2011. [Repealed] |
Kentucky Principal and Income Act Article 1 Definitions and Fiduciary Duties |
450. Definitions for Kentucky Principal and Income Act, KRS 386.450 to 386.504. |
452. Fiduciary duties. |
Article 2. Decedent's Estate or Terminating Income Interest |
Article 3. Apportionment at Beginning and End of Income Interest |
Article 4. Allocation of Receipts During Administration of Trust |
Article 5. Allocation of Disbursements During Administration of Trust |
Article 6. Miscellaneous |
Fiduciary Investment Companies |
510. Definitions for KRS 386.510 to 386.590. |
520. Formation of company -- Approval -- Regulations. |
530. Incorporation. |
540. Regulation of investments. |
550. Corporate powers -- Limitations and restrictions. |
560. Purchase of own stock -- Responsibility and liability -- Compliance with regulations of comptroller of currency. |
570. Control by commissioner of financial institutions. |
580. Advertising and publicity prohibitions -- Exceptions. |
590. Investment adviser's contract. |
600. Title -- Citation. |
Trust Registration |
650. "Court" defined. |
651. "Trust" defined. |
653. Applicability of KRS 386.650 to 386.735 to all trusts. |
655. Trust registration -- Duty to register. |
660. Procedures. |
665. Effect of registration -- Notice of proceedings. |
670. Failure to register. |
Judicial Proceedings |
675. Initiation of judicial proceedings. |
680. Venue. |
685. Proceedings relating to foreign trusts. |
690. Jurisdiction of litigation involving trusts and third parties. |
695. Review of agent's employment and compensation of trustee and employees. |
700. Filing petition -- Notice requirements. |
Duties and Liabilities of Trustees |
705. General duties not limited. |
710. Standard of care and performance. |
715. Duty to inform and account to beneficiaries. |
720. Duty to provide surety on bond. |
725. Appropriate place of administration -- Deviation. |
730. Personal liability of trustee to third parties. |
735. Limitations on proceedings against trustees after final account. |
740. Power of fiduciary to use assets to prevent or remedy environmental violations -- Limitation of personal liability of fiduciary. |
Uniform Trustees' Powers Act |
800. Definitions. |
805. Powers of trustee conferred by trust or by law. |
810. Powers of trustees conferred by this chapter. |
815. Trustee's office not transferable. |
820. Power of court to permit deviation and to approve transactions involving conflict of interest. |
825. Powers exercisable by joint trustees -- Liability. |
830. Third persons protected in dealing with trustee. |
835. Application of KRS 386.805 to 386.840. |
840. Uniformity of interpretation. |
845. Short title. |