{"data":{"id":"us-ky/krs-286.6-385","jurisdiction":"us-ky","citation":"KRS 286.6-385","heading":"Trust accounts.","body":"(1) Shares, share certificates, deposits, and deposit certificates may be held in the name\nof a member in trust for a beneficiary, or in the name of a nonmember in trust for a\nbeneficiary who is a member.\n(2) Beneficiaries may be under eighteen (18) years of a ge; but no beneficiary, unless a\nmember in his own right, shall be permitted to vote, obtain loans, hold office or be\nrequired to pay an entrance or membership fee.\n(3) Payment of part or all of such a trust account to the party in whose name the\naccount is held shall, to the extent of such payment, discharge the liability of the\ncredit union to that party and to the beneficiary, and the credit union shall be under\nno obligation to see to the application of such payment.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14797","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:13Z","sha256":"d0b8cfe4ba814798cde9aeb9f3762be6db301d7ec62cecda6a90cff3f580edb4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.6-375","next":"us-ky/krs-286.6-395"},"notice":"GroundRules: Original legal text. Not legal advice."}