286.6 -575 Trustee or custodian. (1) A credit union may act as trustee or custodian of: (a) Individual retirement accounts authorized by federal or state law; (b) Pension funds of self -employed individuals or of a company or organization sponsoring the credit union; or (c) Other similar retir ement or pension plans, with authorization from the commissioner. (2) A credit union may act as trustee under pension and profit -sharing plans with authorization from the commissioner. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 73 7, effective July 15, 2010. -- Created 1984 Ky. Acts ch. 408, sec. 58, effective July 13, 1984. Formerly codified as KRS 290.575. Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.
Kentucky Legal Code