ADMINISTRATION OF TRUSTS -- LEGAL INVESTMENTS -- UNIFORM PRINCIPAL AND INCOME ACT
KRS tit. XXXIII, ch. 386
in effectContents
section386.010. Definitions for KRS 386.010 to 386.170section386.020. Authorized investments of trust funds -- Fiduciary to account for profits -- Section not applicable to trusteessection386.023. Investment method alternativessection386.025. Restrictions on investment in own stock by bank or trust company acting as fiduciarysection386.030. Investment of funds of financial institutions and funds in hands of public officialssection386.040. Securities of certain federal agencies authorized as collateralsection386.050. Housing authority obligations -- Authorized investments -- Security for public deposits -- Negotiable -- United States bondssection386.060. Investments not to be contrary to instrument creating trustsection386.070. Repealed, 2014section386.080. Repealed, 1944section386.090. Repealed, 1980section386.093. Repealed, 2018section386.095. Repealed, 2020section386.100. Application of payments made to a fiduciary -- Section not applicable to trusteessection386.110. Transfer of a negotiable instrument by a fiduciarysection386.120. Deposits in fiduciary's personal accountsection386.130. Deposits in name of fiduciary as such -- In name of principalsection386.140. Checks drawn by a fiduciary payable to third person or to himselfsection386.150. Fiduciary not relieved of liabilitysection386.160. Deposit of funds with joint control by surety and fiduciarysection386.165. Deposit of securities in a clearing corporation -- Accounting and crediting of depositssection386.170. Nonresident trustee for personal property of nonresident beneficiary -- Power to act in this statesection386.175. Repealed, 2026section386.180. Repealed, 2008section386.185. Repealed, 2014section386.190. Repealed, 1992section386.191. Repealed, 2005section386.195. Repealed, 2005section386.200. Repealed, 1992section386.205. Repealed, 2005section386.210. Repealed, 1992section386.215. Repealed, 2005section386.220. Repealed, 1992section386.225. Repealed, 2005section386.230. Repealed, 1992section386.235. Repealed, 2005section386.240. Repealed, 1992section386.245. Repealed, 2005section386.250. Repealed, 1992section386.255. Repealed, 2005section386.260. Repealed, 1992section386.265. Repealed, 2005section386.270. Repealed, 1992section386.275. Repealed, 2005section386.280. Repealed, 1992section386.285. Repealed, 2005section386.290. Repealed, 1992section386.295. Repealed, 2005section386.300. Repealed, 1992section386.305. Repealed, 2005section386.310. Repealed, 1992section386.315. Repealed, 2005section386.320. Repealed, 1992section386.325. Repealed, 2005section386.330. Repealed, 1992section386.335. Repealed, 2005section386.340. Repealed, 1992section386.345. Repealed, 2005section386.349. Repealed, 2005section386.350. Definitions for KRS 386.355 and 386.360section386.355. Acts prohibited -- Policy of state regarding private foundations -- Split- interest trusts -- Charitable trustssection386.360. Trust instruments -- How amendedsection386.365. Distribution of assets upon dissolution -- Process for selection of receiving trust -- Assets available for distribution definedsection386.367. Filing or reporting requirements -- Restrictionssection386.370. Definition of business trust, business entity, and name of recordsection386.380. Establishment -- Lawful purposessection386.382. Name of business trustsection386.384. Registered office -- Registered agentsection386.386. Repealed, 2011section386.388. Repealed, 2011section386.390. Powers and liabilities of trustees -- Liability of trust for acts of trusteessection386.392. Annual reportsection386.400. Certificates of ownership -- Liability of beneficial ownerssection386.410. Legality of foreign business trustsection386.420. Contents and recordation of declaration of trustsection386.430. Duration of business trust -- Rules against perpetuities and restraint of alienation not violatedsection386.432. Repealed, 2011section386.440. How business trust suedsection386.441. Repealed, 2011section386.450. Definitions for Kentucky Principal and Income Act, KRS 386.450 to 386.504section386.452. Fiduciary dutiessection386.454. Fiduciary's election to have certain standards apply to administration of trust or estate -- Power to adjust between principal and income -- Conversion to unitrust -- Powers under previous version of sectionsection386.456. Determination and distribution of net incomesection386.458. Distribution to residuary and remainder beneficiariessection386.460. When right to income begins and endssection386.462. Apportionment of receipts and disbursements when decedent dies or income interest beginssection386.464. "Undistributed income" defined -- Apportionment when income interest endssection386.466. "Entity" defined -- Character of receipts from entitiessection386.468. Distribution from trust or estatesection386.470. Principal receiptssection386.472. Receipts from rental propertysection386.474. Receipts from obligation to pay money -- Exceptionssection386.476. Receipts from insurance policies and similar contracts--Exceptionsection386.478. Insubstantial allocations not required -- When allocation presumed insubstantialsection386.480. Receipts from deferred compensation, annuities, and similar payments -- Exceptions -- Allocations of payments made from a separate fundsection386.482. Receipts from liquidating assetssection386.484. Receipts from minerals, water, and other natural resourcessection386.486. Receipts from timbersection386.488. Property not productive of incomesection386.490. Disbursements from incomesection386.492. Disbursement from principalsection386.494. Transfers from income to principal for depreciationsection386.496. Transfers from income to reimburse principalsection386.498. Payment of income taxessection386.500. Adjustments between principal and income because of taxessection386.502. Application of KRS 386.450 to 386.504 to trustssection386.504. Short titlesection386.510. Definitions for KRS 386.510 to 386.590section386.520. Formation of company -- Approval -- Regulationssection386.530. Incorporationsection386.540. Regulation of investmentssection386.550. Corporate powers -- Limitations and restrictionssection386.560. Purchase of own stock -- Responsibility and liability -- Compliance with regulations of comptroller of currencysection386.570. Control by commissioner of financial institutionssection386.580. Advertising and publicity prohibitions -- Exceptionssection386.590. Investment adviser's contractsection386.600. Title -- Citationsection386.601. Definitions for KRS 386.601 to 386.619section386.603. Qualified affidavit requirementssection386.605. Restrictions on actions, remedies, and claimssection386.607. Powers and rights of transferorsection386.609. Avoidance of qualified dispositionssection386.610. Spendthrift provisionssection386.611. Qualified trustees and advisorssection386.613. Transferor as investment advisorsection386.615. Successor qualified trusteessection386.617. Revocability of trustssection386.619. Applicable on or after July 15, 2026section386.620. Definitions for KRS 386.620 to 386.624section386.622. Arrangement between spouses involving community property considered a community property trust -- Requirements for -- Provisions of written agreement -- Amendment or revocation of trust -- Consideration not required - - Classification and distribution of propertysection386.624. Satisfaction of obligation of one or both spouses from community property trust -- Distribution of assets upon death of spouse or dissolution of marriagesection386.650. Repealed, 2014section386.651. Repealed, 2014section386.653. Repealed, 2014section386.655. Repealed, 2014section386.660. Repealed, 2014section386.665. Repealed, 2014section386.670. Repealed, 2014section386.675. Repealed, 2014section386.680. Repealed, 2014section386.685. Repealed, 2014section386.690. Repealed, 2014section386.695. Repealed, 2014section386.700. Repealed, 2014section386.705. Repealed, 2014section386.710. Repealed, 2014section386.715. Repealed, 2014section386.720. Repealed, 2014section386.725. Repealed, 2014section386.730. Repealed, 2014section386.735. Repealed, 2014section386.740. Repealed, 2014section386.800. Repealed, 2014section386.805. Repealed, 2014section386.810. Repealed, 2014section386.815. Repealed, 2014section386.820. Power of court to permit deviation and to approve transactions involving conflict of interestsection386.825. Repealed, 2014section386.830. Repealed, 2014section386.835. Repealed, 2014section386.840. Repealed, 2014section386.845. Repealed, 2014section386.4420. Laws governing foreign business trustsection386.4422. Transaction of business by foreign business trustsection386.4424. Repealed, 2011section386.4426. Repealed, 2011section386.4428. Repealed, 2011section386.4430. Repealed, 2011section386.4432. Repealed, 2011section386.4434. Registered office and registered agent for foreign business trustsection386.4436. Repealed, 2011section386.4438. Repealed, 2011section386.4440. Repealed, 2011section386.4442. Repealed, 2011section386.4444. Repealed, 2011section386.4446. Repealed, 2011section386.4448. Repealed, 2011
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/chapter.aspx?id=39165Fetched: 10/20/2026