KRS 386A.6-010: Beneficial interest.

(1) A beneficial interest in a statutory trust is personal property regardless of the nature

of the property of the trust.

(2) A beneficial interest in a statutory trust is not an interest in specific property of the

statutory trust.

(3) A beneficial interest in a statutory trust is freely transferable.

(4) Any limitations upon transfer of a beneficial interest set forth in the governing

instrument shall be void if the same person is the sole trustee and sole beneficial

owner.

(5) A beneficial owner does not ha ve a preemptive right to subscribe to any additional

issue of beneficial interests or any other interest of a statutory trust.