2014 Kentucky Revised Statutes
CHAPTER 99 - URBAN RENEWAL AND REDEVELOPMENT
99.200 Authority to transfer real property to redevelopment corporations.
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<![CDATA[99.200 Authority to transfer real property to redevelopment corporations.
Notwithstanding any requirement of law to the contrary or the absence of direct
provision therefor in the instrument under which a fiduciary is acting, every executor,
administrator, trustee, guardian, conservator or any other person holding trust funds
or acting in a fiduciary capacity, unless the instrument under which such fiduciary is
acting expressly forbids, the state, its subdivisions, cities, all other public bodies, all
public officers, corporations organized under or subject to the provisions of the
banking law (including savings banks, savings and loan associations, trust
companies, banking corporations), the commissioner of the Department of Financial
Institutions as conservator, liquidator or rehabilitator of any such person, partnership
or corporation, persons, partnerships and corporations organized under or subject to
the provisions of the insurance law, the commissioner of the Department of
Insurance as conservator, liquidator or rehabilitator of any such person, partnership
or corporation, any of which owns or holds any real property within a development
area, may grant, sell, lease or otherwise transfer any such real property to a
redevelopment corporation, and receive and hold any cash, stocks, notes,
mortgages, or other securities or obligations, which they are allowed by law to
acquire, exchanged therefor by such redevelopment corporation, and may execute
such instruments and do such acts as may be deemed necessary or desirable by
them or it and by the redevelopment corporation in connection with the development
and the development plan.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 84, effective July 15, 2010. -Amended 1982 Ky. Acts ch. 141, sec. 54, effective July 1, 1982. -- Created 1942
Ky. Acts ch. 36, sec. 12.
Note: 1980 Ky. Acts ch. 396, sec. 59 would have amended this section effective
July 1, 1982. However, 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts
ch. 141, sec. 146, also effective July 1, 1982.
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