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Ky. Rev. Stat. Ann. ch. 386 – Administration Of Trusts -- Legal Investments -- Uniform Principal And Income Act | Midpage
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Kentucky Revised Statutes
Xxxiii
Chapter 386
Ky. Rev. Stat. Ann. ch. 386
Administration Of Trusts -- Legal Investments -- Uniform Principal And Income Act
Commonwealth of Kentucky
386.010
Definitions for KRS 386.010 to 386.175. (Effective until July 15, 2026)
386.020
Authorized investments of trust funds -- Fiduciary to account for profits -- Section not applicable to trustees.
386.023
Investment method alternatives.
386.025
Restrictions on investment in own stock by bank or trust company acting as fiduciary.
386.030
Investment of funds of financial institutions and funds in hands of public officials.
386.040
Securities of certain federal agencies authorized as collateral.
386.050
Housing authority obligations -- Authorized investments -- Security for public deposits -- Negotiable -- United States bonds.
386.060
Investments not to be contrary to instrument creating trust.
386.100
Application of payments made to a fiduciary -- Section not applicable to trustees.
386.110
Transfer of a negotiable instrument by a fiduciary.
386.120
Deposits in fiduciary's personal account.
386.130
Deposits in name of fiduciary as such -- In name of principal.
386.140
Checks drawn by a fiduciary payable to third person or to himself.
386.150
Fiduciary not relieved of liability.
386.160
Deposit of funds with joint control by surety and fiduciary.
386.165
Deposit of securities in a clearing corporation -- Accounting and crediting of deposits.
386.170
Nonresident trustee for personal property of nonresident beneficiary -- Power to act in this state.
386.175
Trustee's power to appoint principal or income in favor of trustee of second trust -- Terms of second trust -- Special fiduciary -- Notice -- Judicial proceedings. (Effective until July 15, 2026)
386.350
Definitions for KRS 386.355 and 386.360.
386.355
Acts prohibited -- Policy of state regarding private foundations -- Split-interest trusts -- Charitable trusts.
386.360
Trust instruments -- How amended.
386.365
Distribution of assets upon dissolution -- Process for selection of receiving trust -- Assets available for distribution defined.
386.367
Filing or reporting requirements -- Restrictions.
386.370
Definition of business trust, business entity, and name of record.
386.380
Establishment -- Lawful purposes.
386.382
Name of business trust.
386.384
Registered office -- Registered agent.
386.390
Powers and liabilities of trustees -- Liability of trust for acts of trustees.
386.392
Annual report.
386.400
Certificates of ownership -- Liability of beneficial owners.
386.410
Legality of foreign business trust.
386.420
Contents and recordation of declaration of trust.
386.430
Duration of business trust -- Rules against perpetuities and restraint of alienation not violated.
386.440
How business trust sued.
386.4420
Laws governing foreign business trust.
386.4422
Transaction of business by foreign business trust.
386.4434
Registered office and registered agent for foreign business trust.
386.450
Definitions for Kentucky Principal and Income Act, KRS 386.450 to 386.504.
386.452
Fiduciary duties.
386.454
Fiduciary's election to have certain standards apply to administration of trust or estate -- Power to adjust between principal and income -- Conversion to unitrust -- Powers under previous version of section.
386.456
Determination and distribution of net income.
386.458
Distribution to residuary and remainder beneficiaries.
386.460
When right to income begins and ends.
386.462
Apportionment of receipts and disbursements when decedent dies or income interest begins.
386.464
"Undistributed income" defined -- Apportionment when income interest ends.
386.466
"Entity" defined -- Character of receipts from entities.
386.468
Distribution from trust or estate.
386.470
Principal receipts.
386.472
Receipts from rental property.
386.474
Receipts from obligation to pay money -- Exceptions.
386.476
Receipts from insurance policies and similar contracts--Exception.
386.478
Insubstantial allocations not required -- When allocation presumed insubstantial.
386.480
Receipts from deferred compensation, annuities, and similar payments -- Exceptions -- Allocations of payments made from a separate fund.
386.482
Receipts from liquidating assets.
386.484
Receipts from minerals, water, and other natural resources.
386.486
Receipts from timber.
386.488
Property not productive of income.
386.490
Disbursements from income.
386.492
Disbursement from principal.
386.494
Transfers from income to principal for depreciation.
386.496
Transfers from income to reimburse principal.
386.498
Payment of income taxes.
386.500
Adjustments between principal and income because of taxes.
386.502
Application of KRS 386.450 to 386.504 to trusts.
386.504
Short title.
386.510
Definitions for KRS 386.510 to 386.590.
386.520
Formation of company -- Approval -- Regulations.
386.530
Incorporation.
386.540
Regulation of investments.
386.550
Corporate powers -- Limitations and restrictions.
386.560
Purchase of own stock -- Responsibility and liability -- Compliance with regulations of comptroller of currency.
386.570
Control by commissioner of financial institutions.
386.580
Advertising and publicity prohibitions -- Exceptions.
386.590
Investment adviser's contract.
386.600
Title -- Citation.
386.620
Definitions for KRS 386.620 to 386.624.
386.622
Arrangement between spouses involving community property considered a community property trust -- Requirements for -- Provisions of written agreement -- Amendment or revocation of trust -- Consideration not required -- Classification and distribution of property.
386.624
Satisfaction of obligation of one or both spouses from community property trust -- Distribution of assets upon death of spouse or dissolution of marriage.
386.820
Power of court to permit deviation and to approve transactions involving conflict of interest.