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KRS 386B.1-080

Others treated as qualified beneficiaries

Known as the Uniform Trust Code

The act spans §§ 386B.10-010 to 386B.9-010 (95 sections).

Effective: July 15, 2014 History: Created 2014 Ky

(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 qualification 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 permissible 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.

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