KRS 386B.10-110: Protection of person dealing with trustee.

(1) A person other than a beneficiary who in good faith assists a trustee, or who in good

faith and for value deals with a trustee, without knowledge that the trustee is

exceeding or improperly exercising the trustee's powers is protected from liability as

if the trustee properly exercised the power.

(2) A person other than a beneficiary who in good faith deals with a trustee is not

required to inquire into the extent of the trustee's powers or the propriety of their

exercise.

(3) A person who in good faith del ivers assets to a trustee need not ensure their proper

application.

(4) A person other than a beneficiary who in good faith assists a former trustee, or who

in good faith and for value deals with a former trustee, without knowledge that the

trusteeship has terminated is protected from liability as if the former trustee were

still a trustee.

(5) Comparable protective provisions of other laws relating to commercial transactions

or transfer of securities by fiduciaries prevail over the protection provided by t his

section.