KRS 99.200: Authority to transfer real property to redevelopment corporations.

Notwithstanding any requirement of law to the contrary or the absence of direct provision

therefor in the instrument under which a fiduciary is acting, every executor, administrator,

trustee, guardian, conservator or any other person holding trust funds or acting in a

fiduciary capacity, unless the instrument under which such fiduciary is acting expressly

forbids, the state, its subdivisions, cities, all other public bodies, all public officers,

corporations organized under or subject to the provisions of t he banking law (including

savings banks, savings and loan associations, trust companies, banking corporations), the

commissioner of the Department of Financial Institutions as conservator, liquidator or

rehabilitator of any such person, partnership or corp oration, persons, partnerships and

corporations organized under or subject to the provisions of the insurance law, the

commissioner of the Department of Insurance as conservator, liquidator or rehabilitator of

any such person, partnership or corporation, any of which owns or holds any real property

within a development area, may grant, sell, lease or otherwise transfer any such real

property to a redevelopment corporation, and receive and hold any cash, stocks, notes,

mortgages, or other securities or oblig ations, which they are allowed by law to acquire,

exchanged therefor by such redevelopment corporation, and may execute such

instruments and do such acts as may be deemed necessary or desirable by them or it and

by the redevelopment corporation in connecti on with the development and the

development plan.