386.410 Legality of foreign business trust. No beneficial owner of certificates in a foreign business trust shall have his interests therein assessed and no beneficial owner of a foreign trust shall be personally liable for any debts or liabilities incurred by the trustees or by the foreign business trust after June 16, 1966. Effective: July 15, 2010 History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 165, effective July 15, 2010. -- Amended 2007 Ky. Acts ch. 137, sec. 165, effective June 26, 2007. -- Created 1966 Ky. Acts ch. 19, sec. 5. Legi slative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, 'The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.'
Kentucky Legal Code