386B.1 -080 Others treated as qualified beneficiaries. (1) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualificati on is being determined: (a) Is a distributee or permissible distributee of trust income or principal; (b) Would be a distributee or permissible distributee of trust income or principal on the termination of the interests of other distributees or permissibl e distributes then receiving or eligible to receive distributions; or (c) Would be a distributee or permissible distributee of trust income or principal if the trust ended on that date. (2) A person appointed to enforce a trust established for the care of an animal or another noncharitable purpose under KRS 386B.4 -080 or 386B.4 -090, has the rights of a qualified beneficiary under this chapter. (3) Other than those listed in KRS 386B.7 -060, the Attorney General has the rights of a qualified beneficiary with respect to a charitable trust governed by this chapter. Effective: July 15, 2014 History: Created 2014 Ky. sted in KRS 386B.7 -060, the Attorney General has the rights of a qualified beneficiary with respect to a charitable trust governed by this chapter. Effective: July 15, 2014 History: Created 2014 Ky. Acts ch. 25, sec. 8, effective July 15, 2014.
Kentucky Legal Code