Kentucky Statutes 386.010 – Definitions for KRS 386.010 to 386.175
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As used in KRS § 386.010 to KRS § 386.175, unless the context requires otherwise:
(1) “Fiduciary” means any trustee, guardian, executor, administrator, conservator or other individual or corporation holding funds or otherwise acting in a fiduciary capacity.
(2) “Principal” means any person to whom a fiduciary, as such, owes an obligation.
Effective: July 15, 2014
History: Amended 2014 Ky. Acts ch. 25, sec. 100, effective July 15, 2014. — Amended
1984 Ky. Acts ch. 111, sec. 152, effective July 13, 1984. — Amended 1982 Ky. Acts ch. 141, sec. 99, effective July 1, 1982. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4711-1.
Note: 1980 Ky. Acts ch. 396, sec. 108 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 Acts ch. 396 was repealed by 1982 Ky.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.
(1) “Fiduciary” means any trustee, guardian, executor, administrator, conservator or other individual or corporation holding funds or otherwise acting in a fiduciary capacity.
Terms Used In Kentucky Statutes 386.010
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Trustee: A person or institution holding and administering property in trust.
(2) “Principal” means any person to whom a fiduciary, as such, owes an obligation.
Effective: July 15, 2014
History: Amended 2014 Ky. Acts ch. 25, sec. 100, effective July 15, 2014. — Amended
1984 Ky. Acts ch. 111, sec. 152, effective July 13, 1984. — Amended 1982 Ky. Acts ch. 141, sec. 99, effective July 1, 1982. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4711-1.
Note: 1980 Ky. Acts ch. 396, sec. 108 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 Acts ch. 396 was repealed by 1982 Ky.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.