There is a newer version of this Section
2022
2021 (you are here)
2020
2019
2018
Other previous versions
View our newest version here

2021 Kentucky Revised Statutes
Chapter 386A - Kentucky uniform statutory trust act (2012)
Subchapter 386A.3 - Governing Law -- Authorizations -- Duration -- Powers
386A.3-050 Duration.

Universal Citation: KY Rev Stat § 386A.3-050 (2021)
Previous Next

Download as PDF
386A.3-050 Duration. (1) (2) (3) (4) (5) (6) A statutory trust has perpetual existence. A statutory trust, or any series thereof, may not be terminated or revoked except in accordance with this chapter or the terms of the governing instrument. A statutory trust does not terminate because the same person is the sole trustee and sole beneficial owner. A series of a statutory trust does not terminate because the same person is the sole trustee and the sole beneficial owner associated with the series. That the same person is the sole trustee and sole beneficial owner of a statutory trust or of a series thereof is not a basis for not applying KRS 386A.3-040(3) or (4). The death, incapacity, dissolution, termination, or bankruptcy of a beneficial owner or of a trustee does not result in the termination or dissolution of the statutory trust or any series with which the beneficial owner or trustee has been associated. Effective: June 25, 2013 History: Amended 2013 Ky. Acts ch. 106, sec. 9, effective June 25, 2013. -- Created 2012 Ky. Acts ch. 81, sec. 20, effective July 12, 2012.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.