KRS 286.3-272: Investment of fiduciary assets in company or trust associated with

investing institution -- Fee.

(1) Notwithstanding any other law, a bank empowered to act as a fiduciary or a trust

company, to the extent that it exercises investment discretion as a fiduciary,

custodian, managing agent, or otherwise with respect to the investment and

reinvestment of assets that it holds in a fiduciary capacity, may invest and reinvest

the fiduciary assets in an investment company or investment trust established,

owned, or controlled by the bank or trust company or an affiliate of the bank or trust

company.

(2) The fact that the bank or trust company, or any affiliate of the bank or trust

company, is providing services to the investment company or trust as investment

advisor, sponsor, distributor, custodian, transfer agent, registrar, or otherwise, and

receiving reasonable remuneration for the services, does not preclude the bank or

trust company from investing in the investment company or trust.

(3) The bank or trust c ompany making an investment of fiduciary assets in the

investment company or investment trust may charge a reasonable fee for investment

advisory, brokerage, transfer agency, register, management, or other similar services

provided to the investment compan y. The fee may be in addition to the

compensation which the bank or trust company is otherwise entitled to receive from

the fiduciary account provided that the fee is disclosed at least annually, by

prospectus, account statement, or any other written means to all persons entitled to

receive statements of account activity.

(4) As used in subsection (1) of this section, "affiliate of the bank or trust company"

means any bank, trust, or other entity that controls, is controlled by, or is under

common control with the bank, trust company, or other entity.