{"data":{"id":"us-ky/krs-198a.100","jurisdiction":"us-ky","citation":"KRS 198A.100","heading":"Trust agreement to secure corporate obligations -- Operation thereof.","body":"In the discretion of the corporation any obligations 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, mortgage loans, mo rtgage loan\ncommitments, construction loans, temporary loans, contracts, agreements and other\nsecurity or investment obligations, the fees or charges made or received by the\ncorporation, the moneys received in payment of loans and interest thereon, and any  other\nmoneys received or to be received by the corporation. Such trust agreement or resolution\nmay contain such provisions for protecting and enforcing the rights and remedies of the\nholders of any such obligations as may be reasonable and proper and not in violation of\nlaw, including covenants setting forth the duties of the corporation in relation to the\npurposes to which obligation proceeds may be applied, the disposition or pledging of the\nrevenues or assets of the corporation, the terms and conditions  for the issuance of\nadditional obligations, and the custody, safeguarding and application of all moneys. It\nshall be lawful for any bank or trust company incorporated under the laws of the state\nwhich may act as depository of the proceeds of obligations, revenues or other money\nhereunder to furnish such indemnifying bonds or to pledge such securities as may be\nrequired by the corporation. Any such trust agreement or resolution may set forth the\nrights and remedies of the holders of any obligations and of t he trustee, and may restrict\nthe individual right of action by any such holders. In addition to the foregoing, any such\ntrust agreement or resolution may contain such other provisions as the corporation may\ndeem reasonable and proper for the security of th e holders of any obligations. All\nexpenses incurred in carrying out the provisions of such trust agreement or resolution\nmay be paid from the revenues or assets pledged or assigned to the payment of the\nprincipal of and the interest on obligations or from any other funds available to the\ncorporation.","path":["KRS Chapter 198A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=6937","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:50Z","sha256":"e9ea98b88849e42ab50a8b078bab110ee3930c6e9794b52befeb0671c5e77bf3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-198a.090","next":"us-ky/krs-198a.110"},"notice":"GroundRules: Original legal text. Not legal advice."}