{"data":{"id":"us-ky/krs-386.370","jurisdiction":"us-ky","citation":"KRS 386.370","heading":"Definition of business trust, business entity, and name of record.","body":"(1) A business trust is an express trust created by a written declaration of trust whereby\nproperty is conveyed to one (1) or more trustees, who hold and manage same for the\nbenefit and profit of such persons as may be or become, the holders of transferable\ncertificates evidencing the beneficial interest in the trust estate. For the purposes of\nKRS 386.370 to 386.440, business trusts shall include but are not limited to \"Real\nEstate Investment Trusts\" as defined by and which comply with the Federal Internal\nRevenue Code of 1986 as amended or such section or sections of any subsequent\nInternal Revenue Code as may be applicable to real estate investment trusts.\n(2) \"Business entity\" means a domestic or foreign limited liability company,\ncorporation, partnership, limited partnership, business or statutory trust, and not-for-\nprofit unincorporated association.\n(3) \"Name of record with the Secretary of State\" means any real, fictitious, reserved,\nregistered, or assumed name of a business entity.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35887","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:16Z","sha256":"6ff5df0061f370dec195efc417f549bc5467af4193d644aa247724bb8d88bfcd","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.367","next":"us-ky/krs-386.380"},"notice":"GroundRules: Original legal text. Not legal advice."}