{"data":{"id":"us-ky/krs-381.9199","jurisdiction":"us-ky","citation":"KRS 381.9199","heading":"Association as trustee.","body":"With respect to a third person dealing with the association in the association's capacity as\na trustee:\n(1) The existence of trust powers and their proper exercise by the association may be\nassumed without inquiry;\n(2) A third person is not bound to inquir e whether the association has power to act as\ntrustee or is properly exercising trust powers;\n(3) A third person, without actual knowledge that the association is exceeding or\nimproperly exercising its powers, is fully protected in dealing with the associa tion\nas if it possessed and properly exercised the powers it purports to exercise; and\n(4) A third person is not bound to ensure the proper application of trust assets paid or\ndelivered to the association in its capacity as trustee.","path":["KRS Chapter 381"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=36864","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:12Z","sha256":"4a0077301e3c85c3aa7708312acc20cf0020909001dfc1c7275ee9f3b86c7635","source_id":"us-ky","stale":false,"prev":"us-ky/krs-381.9197","next":"us-ky/krs-381.9201"},"notice":"GroundRules: Original legal text. Not legal advice."}