2006 Kentucky Revised Statutes - .575   Trustee or custodian.

286.6-575 Trustee or custodian. (1) A credit union may act as trustee or custodian of: (a)  Individual retirement accounts authorized by federal or state law; (b)  Pension funds of self-employed individuals or of a company or organization sponsoring the credit union; or (c)  Other similar retirement or pension plans, with authorization from the executive director. (2) A credit union may act as trustee under pension and profit-sharing plans with authorization from the executive director. Effective: July 13, 1984 History:Created 1984 Ky. Acts ch. 408, sec. 58, effective July 13, 1984. Formerly codified as KRS 290.575. Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.