KRS 386A.5-090: Indemnification and advancement.

(1) Subject to KRS 386A.1-040(2)(q), a statutory trust may:

(a) Indemnify and hold harmless a trustee, beneficial owner, or other person with

respect to any claim or demand against the person by reason of the person's

relationship with the trust; and

(b) Advance expenses, including reasonable attorney's fees and costs, incurred by

a trustee, beneficial owner, or other person in connection with a claim or

demand against the person by reason of the person's relationship to a trust

before the final disposition of the claim or demand, upon an undertaking by or

on behalf of the person to repay the trust if the person is ultimately determined

not to be entitled to be indemnified under subsection (1) of this section. The

terms of the undertaking shall be as set forth i n the governing instrument or as

approved by the disinterested trustees and shall be in a record.

(2) The decision to indemnify or advance expenses shall be made by a committee of at

least two (2) trustees not at that time parties to the proceeding or by t he beneficial

owners, but beneficial interests owned by or voted under the control of a trustee

who are at the time parties to the proceeding shall not be voted on the

determination.