KRS 286.3-220: Corporate fiduciaries subject to laws governing individuals -- Security

on bonds -- Ability to serve as trustee of multiple trusts with common or

nonidentical beneficiaries.

(1) When acting as a fiduciary or in any other capacity in which the duties , powers,

liabilities, rights, and compensation are regulated by law, or under the control or

supervision of the court, banks and trust companies shall, except as provided in

subsections (2) and (3) of this section, be subject to the same duties and

responsibilities, have the same rights and powers, and receive the same

compensation as is allowed the individual holding or exercising similar offices or

trusts.

(2) Upon all bonds required to be executed by such corporation before any court, the

capital stock shall be the only security required for the faithful performance of its

duties, unless the court or officer before whom the bond is executed, or some party

in interest demands additional security.

(3) A bank or trust company serving as a trustee of multipl e trusts having one (1) or

more common beneficiaries or remainder beneficiaries, need not obtain court

approval for performance or execution of its duties, and it shall not be considered a

conflict of interest solely because all beneficiaries or remainder beneficiaries of the

trusts are not identical.