KRS 386B.8-150

General powers of trustee

Known as the Uniform Trust Code

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

Applied in 1 court decision — leading case Select Portfolio Servicing, Inc. v. Blevins (2016)

Most recently applied in Select Portfolio Servicing, Inc. v. Blevins (July 2016)

Effective: July 15, 2014 History: Created 2014 Ky

(1) A trustee, without authorization by the court, may exercise:

(a) Powers conferred by the terms of the trust; and (b) Except as limited by the terms of the trust:

1. All powers over the trust property which an unmarried competent owner has over individually owned property;

2. Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and 3. Any other powers conferred by this chapter.

(2) The exercise of a power is subject to the fiduciary duties prescribed by this subchapter.

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