{"data":{"id":"us-ky/krs-386.390","jurisdiction":"us-ky","citation":"KRS 386.390","heading":"Powers and liabilities of trustees -- Liability of trust for acts of trustees.","body":"The trustees shall hold the legal title to all property at any time belonging to the business\ntrust. They shall have control over such property as well as the control and m anagement\nof the business and affairs of the business trust. Liability to third persons for any act,\nomission or obligation of a trustee of a business trust, when acting in such capacity shall\nextend to the whole of the trust estate, or so much thereof as may be necessary to\ndischarge such obligation, but no trustee shall be personally liable for any such act,\nomission or obligation unless said act, omission or obligation constitute fraud or bad\nfaith. The trustee shall have such powers as to the investment of the trust estate as may be\nset out in the declaration of trust without regard to the type of investments to which\ntrustees generally are restricted by the laws of the Commonwealth of Kentucky.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35893","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:16Z","sha256":"edb72cd9087119616154fdebc8186eb1b9069b2408bf07330a9fb9839fc66c09","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.388","next":"us-ky/krs-386.392"},"notice":"GroundRules: Original legal text. Not legal advice."}