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 Repealed, 1944. [Repealed]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 Repealed, 1980. [Repealed]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 Repealed, 2008. [Repealed]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 Repealed, 1992. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, 1992. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, 1992. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, 1992. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, 1992. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, 1992. [Repealed]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 Repealed, effective January 1, 2005. [Repealed]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 Repealed, 1992.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.
454. Fiduciary's election to have certain standards apply to administration of trust or estate -- Power to adjust between principal and income -- Conversion to unitrust -- Adversary proceeding -- Powers under previous version of section.
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.