KRS 386A.1-050: Applicability of trust and other law.

(1) The law of this Commonwealth pertaining to common -law trusts supplements this

chapter.

(2) A governing instrument may supersede or modify application to the statutory trust

of any law of this Commonwealth pertaining to common-law trusts.

(3) Unless displaced by particular provisions of this chapter, the principles of law and

equity supplement this chapter.

(4) Although this chapter is in derogation of common law, the rule of construction

requiring strict construction of statutes which are in derogation of c ommon law

shall not apply to its provisions.

(5) Each statutory trust and each foreign statutory trust is subject to KRS Chapter 14A.

(6) If an obligation to pay interest arises under this chapter and the rate is not specified,

the rate is that specified in KRS 360.010.

(7) For purposes of KRS 141.0401, each statutory trust and foreign statutory trust and

each series of a series trust or of a foreign series trust shall be treated as a limited

liability pass-through entity.