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2016 Kentucky Revised Statutes
CHAPTER 386A - KENTUCKY UNIFORM STATUTORY TRUST ACT (2012)
Subchapter 6 - Beneficiaries and Beneficial Rights
386A.6-010 Beneficial interest.

KY Rev Stat § 386A.6-010 (2016) What's This?

Download as PDF 386A.6-010 Beneficial interest. (1) (2) (3) (4) (5) A beneficial interest in a statutory trust is personal property regardless of the nature of the property of the trust. A beneficial interest in a statutory trust is not an interest in specific property of the statutory trust. A beneficial interest in a statutory trust is freely transferable. Any limitations upon transfer of a beneficial interest set forth in the governing instrument shall be void if the same person is the sole trustee and sole beneficial owner. A beneficial owner does not have a preemptive right to subscribe to any additional issue of beneficial interests or any other interest of a statutory trust. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 81, sec. 45, effective July 12, 2012.

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