KRS 386.4420: Laws governing foreign business trust.

(1) Subject to the Constitution of this Commonwealth:

(a) Except as provided in subsection (2) of this section, the laws of the state or

other jurisdiction under which a foreign business trust is organized shall

govern its organization and internal affairs, in cluding the liability of its

trustees and beneficial owners for the debts and obligations of the business

trust and the inspection by a trustee or a beneficial owner of the books and

records of the business trust; and

(b) A foreign business trust shall not be denied registration by reason of any

difference between the laws of another jurisdiction under which a foreign

business trust is organized and the laws of this Commonwealth.

(2) A certificate of authority obtained pursuant to this chapter shall not aut horize a

foreign business trust to exercise any powers or engage in any business that a

domestic business trust is forbidden to exercise or engage in by the laws of this

Commonwealth.