386A.5 -020 Trustee powers. (1) A trustee may exercise: (a) Powers conferred by the governing instrument; (b) Except as limited by the governing instrument, any other powers necessary or convenient to carry out the business and affairs of the statutory trust; and (c) Other powers conferred by this chapter. (2) Ever y trustee of a statutory trust, by acceptance of election or appointment as a trustee, including by service, shall be deemed thereby to have consented to the jurisdiction of the courts of the Commonwealth of Kentucky for any action by the statutory trust o r a beneficial owner against the trustee. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 81, sec. 34, effective July 12, 2012.
Kentucky Legal Code