2011 Kentucky Revised Statutes CHAPTER 386 ADMINISTRATION OF TRUSTS -- LEGAL INVESTMENTS -- UNIFORM PRINCIPAL AND INCOME ACT 386.655 Trust registration -- Duty to register.
KY Rev Stat § 386.655 (1996 through Reg Sess) What's This?
386.655 Trust registration -- Duty to register.
The trustee of a trust having its principal place of administration in this state shall register
the trust in the court of this state at the principal place of administration. Unless otherwise
designated in the trust instrument, the principal place of administration of a trust is the
trustee's usual place of business where the records pertaining to the trust are kept, or at the
trustee's residence if he has no such place of business. In the case of cotrustees, the
principal place of administration, if not otherwise designated in the trust instrument, is (1)
the usual place of business of the corporate trustee if there is but one (1) corporate
cotrustee, or (2) the usual place of business or residence of the individual trustee who is a
professional fiduciary if there is but one (1) such person and no corporate cotrustee, and
otherwise (3) the usual place of business or residence of any of the cotrustees as agreed
upon by them. The duty to register under this section does not apply to the trustee of a
trust if registration would be inconsistent with the retained jurisdiction of a foreign court
from which the trustee cannot obtain release, nor does the duty to register under this
section apply to inter vivos trusts, whether revocable or irrevocable, unless the settlor of
the trust so directs.
History: Created 1976 Ky. Acts ch. 218, sec. 2.
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