Kentucky Statutes 386A.3-030 – Permissible purposes
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(1) Except as otherwise provided in subsection (2) of this section, a statutory trust may have any lawful purpose.
(2) A statutory trust may not:
(a) Have a predominantly donative purpose; or
(b) Be organized for the purpose of rendering a professional service.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 81, sec. 18, effective July 12, 2012.
(2) A statutory trust may not:
(a) Have a predominantly donative purpose; or
(b) Be organized for the purpose of rendering a professional service.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 81, sec. 18, effective July 12, 2012.