KRS 386A.5-070: Interested transactions.

(1) Each trustee and each person designated pursuant to KRS 386A.1 -030(4)(h) owes a

duty of loyalty to the statutory trust and any series thereof, including but not limited

to the following:

(a) To account to the trust or a series thereof and hold as trustee f or it any

property, profit, or benefit derived in the conduct and winding up of the trust's

or series's business or derived from a use of property, including the

appropriation of an opportunity, of the trust or a series thereof;

(b) To refrain from dealing with the trust in the conduct or winding up of the

trust's business as or on behalf of a party having an interest adverse to the

trust; and

(c) To refrain from competing with the trust or with any series thereof in the

conduct of its business before dissolution.

(2) A person subject to subsection (1) of this section who acts through a related party

shall be treated as having acted directly.

(3) That a transaction was fair to the statutory trust or a series thereof shall not

constitute a defense to the breach of the obligation in subsection (1) of this section.