2016 Kentucky Revised Statutes
CHAPTER 386B - UNIFORM TRUST CODE
Subchapter 1 - General Provisions and Definitions
386B.1-080 Others treated as qualified beneficiaries.

Download as PDF 386B.1-080 Others treated as qualified beneficiaries. (1) (2) (3) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined: (a) Is a distributee or permissible distributee of trust income or principal; (b) Would be a distributee or permissible distributee of trust income or principal on the termination of the interests of other distributees or permissible distributes then receiving or eligible to receive distributions; or (c) Would be a distributee or permissible distributee of trust income or principal if the trust ended on that date. A person appointed to enforce a trust established for the care of an animal or another noncharitable purpose under KRS 386B.4-080 or 386B.4-090, has the rights of a qualified beneficiary under this chapter. Other than those listed in KRS 386B.7-060, the Attorney General has the rights of a qualified beneficiary with respect to a charitable trust governed by this chapter. Effective: July 15, 2014 History: Created 2014 Ky. Acts ch. 25, sec. 8, effective July 15, 2014.