KRS 286.3-270: Fiduciary may act in own name -- Records -- Investments not subject to

debts of fiduciary.

(1) In making real estate mortgage loans for the purpose of investing trust funds, a trust

company or bank empowered to act as a fiduciary may make such mortgage loans in

its individual name, and in connection with such loans may prosecute all suits and

foreclosure actions, and may buy in, manage, lease, repair, and sell foreclosed

property in its individual name, without reference to any trust or beneficial

ownership.

(2) Such trust company or bank shall at all times keep definite records showing fully

and accurately all beneficial ownership in such loans, suits, or property, which

records shall at all times be subject to the inspection and examination of eith er state

or federal banking authorities.

(3) Such mortgage loans and foreclosed property shall not be subject to the individual

debts of the trust company or bank but shall belong to the beneficial owners thereof

as shown by the records free from any claims against the trust company or bank.