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KRS 386A.3-030

Permissible purposes

Effective: July 12, 2012 History: Created 2012 Ky

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

(2) A statutory trust may not:

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

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.