{"data":{"id":"us-ky/krs-286.3-272","jurisdiction":"us-ky","citation":"KRS 286.3-272","heading":"Investment of fiduciary assets in company or trust associated with","body":"investing institution -- Fee.\n(1) Notwithstanding any other law, a bank empowered to act as a fiduciary or a trust\ncompany, to the extent that it exercises investment discretion as a  fiduciary,\ncustodian, managing agent, or otherwise with respect to the investment and\nreinvestment of assets that it holds in a fiduciary capacity, may invest and reinvest\nthe fiduciary assets in an investment company or investment trust established,\nowned, or controlled by the bank or trust company or an affiliate of the bank or trust\ncompany.\n(2) The fact that the bank or trust company, or any affiliate of the bank or trust\ncompany, is providing services to the investment company or trust as investment\nadvisor, sponsor, distributor, custodian, transfer agent, registrar, or otherwise, and\nreceiving reasonable remuneration for the services, does not preclude the bank or\ntrust company from investing in the investment company or trust.\n(3) The bank or trust c ompany making an investment of fiduciary assets in the\ninvestment company or investment trust may charge a reasonable fee for investment\nadvisory, brokerage, transfer agency, register, management, or other similar services\nprovided to the investment compan y. The fee may be in addition to the\ncompensation which the bank or trust company is otherwise entitled to receive from\nthe fiduciary account provided that the fee is disclosed at least annually, by\nprospectus, account statement, or any other written means  to all persons entitled to\nreceive statements of account activity.\n(4) As used in subsection (1) of this section, \"affiliate of the bank or trust company\"\nmeans any bank, trust, or other entity that controls, is controlled by, or is under\ncommon control with the bank, trust company, or other entity.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14569","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"52c9c949c451269ca237efe590305557a78a3b0076d92f990f9c77641890645b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-270","next":"us-ky/krs-286.3-275"},"notice":"GroundRules: Original legal text. Not legal advice."}