1. (1) Except as otherwise provided in subsection (2) of this section, a statutory trust may have any lawful purpose.

2. (2) A statutory trust may not:

   1. (a) Have a predominantly donative purpose; or
   2. (b) Be organized for the purpose of rendering a professional service.

Effective: July 12, 2012

History: Created 2012 Ky. Acts ch. 81, sec. 18, effective July 12, 2012.