{"data":{"id":"us-ky/krs-164a.090","jurisdiction":"us-ky","citation":"KRS 164A.090","heading":"Trust agreements authorized.","body":"In the discretion of the corporation any obligation issued under the provisions of this\nchapter may be secured by a trust agreement by and between the corporation and a\ncorporate trustee, which may be any trust company or bank having the powers of a trust\ncompany within or without the state.  Such trust agreement or the resolution providing for\nthe issuance of such obligations may pledge or assign all or any part of the revenues or\nassets of the corporation, including, without limitation, insured student lo ans, insured\nstudent loan commitments, temporary loans, contracts, agreement and other security or\ninvestment obligations, the fees or charges made or received by the corporation, the\nmoneys received in payment of insured student loans and interest thereon , including the\nproceeds of insurance thereon, and any other moneys received or due to be received by\nthe corporation. Such trust agreement or resolution may contain such provisions for\nprotecting and enforcing the rights and remedies of the holders of any  such obligations as\nmay be reasonable and proper and not in violation of law, including covenants setting\nforth the duties of the corporation in relation to the purposes to which obligation proceeds\nmay be applied, the disposition or pledging of the reven ues or assets of the corporation,\nthe terms and conditions for the issuance of additional obligations, and the custody,\nsafeguarding and application of all moneys. It shall be lawful for any bank or trust\ncompany incorporated under the laws of the state wh ich may act as depository of the\nproceeds of obligations, revenues or other money hereunder to furnish such indemnifying\nbonds or to pledge such securities as may be required by the corporation. Any such trust\nagreement or resolution may set forth the righ ts and remedies of the holders of any\nobligations and of the trustee, and may restrict the individual right of action by any such\nholders. In addition to the foregoing, any such trust agreement or resolution may contain\nsuch other provisions as the corpora tion may deem reasonable and proper for the security\nof the holders of any obligations. All expenses incurred in carrying out the provisions of\nsuch trust agreement or resolution may be paid from the revenues or assets pledged or\nassigned to the payment of  the principal of and the interest on obligations or from any\nother funds available to the corporation.","path":["KRS Chapter 164A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4539","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:19Z","sha256":"3070574b890a0e4097d372e2517b9066dfea09826f98c60834319f8224537996","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164a.080","next":"us-ky/krs-164a.100"},"notice":"GroundRules: Original legal text. Not legal advice."}