KRS 386A.5-060: Good faith reliance.

(1) A trustee, officer, employee, manager, committee of a statutory trust, or other

person designated pursuant to KRS 386A.1 -030(4)(h) shall be entitled to rely on

information, opinions, reports, or statements, including financial statements and

other financial data, if prepared or presented by:

(a) One (1) or more trustees, employees, or agents of the trust whom the person

relying reasonably believes to be reliable and competent in the matters

presented;

(b) Legal counsel, public accountants, or other persons as to matters the person

relying reasonably believes are within the person's professional or expert

competence; or

(c) A committee of the trustees of which the relying person is not a member, if

the relying person reasonably believes the committee to be re liable and

competent in the matters presented.

(2) No person shall be considered to be acting reasonably if he or she has knowledge

concerning the matter in question that makes reliance otherwise permitted by

subsection (1) of this section unwarranted.