{"data":{"id":"us-ky/krs-247.952","jurisdiction":"us-ky","citation":"KRS 247.952","heading":"Trust agreement to secure obligation.","body":"In the discretion of the corporation, any obligations issued under the provisions of KRS\n247.940 to 247.978 may be secured by a trust agreement by and between the corporation\nand a corporate trustee, which may be any trust company or bank having powers of a trust\ncompany within or without the Commonwealth.  Such trust agreement or the resolution\nproviding for the issuance of such obligations may pledge or assign all or any part of the\nrevenues or assets of the corporation, including, without limitation, mor tgage loans,\nmortgage loan commitments, contracts, agreements and other security or investment\nobligations, the fees or charges made or received by the corporation, the moneys received\nin payment of loans and interest thereon, and any other moneys received or to be received\nby the 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 the obligation\nproceeds may be applied, the disposition of the pledging of the revenues or assets of the\ncorporation, the terms and conditions for the issu ance of additional obligations, and the\ncustody, safeguarding and application of all moneys.  It shall be lawful for any corporate\ntrustee which may act as depository of the proceeds of obligations, revenues or other\nmoney hereunder to furnish such indemni fying bonds or to pledge such securities as may\nbe required by the corporation.  Any such trust agreement or resolution may set forth the\nrights and remedies of the holders of the obligations of the corporation and of the trustee,\nand may restrict the indi vidual right of action by any such holders.  In addition to the\nforegoing, any such trust agreement or resolution may contain such other provisions as\nthe corporation may deem reasonable and proper for the security and source of payment\nof its obligations.   All expenses incurred in carrying out the provisions of such trust\nagreement or resolution may be paid from the revenues or assets pledged or assigned to\nthe payment of the principal of and the interest on the obligations or from any other funds\navailable to the corporation.","path":["KRS Chapter 247"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=11864","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:00Z","sha256":"4bb3cb143b7ac2cd31046792eb0aef39768576ae2c2a911f74e29a121e31d357","source_id":"us-ky","stale":false,"prev":"us-ky/krs-247.951","next":"us-ky/krs-247.953"},"notice":"GroundRules: Original legal text. Not legal advice."}