{"data":{"id":"us-ky/krs-386.560","jurisdiction":"us-ky","citation":"KRS 386.560","heading":"Purchase of own stock -- Responsibility and liability -- Compliance with","body":"regulations of comptroller of currency.\n(1) A fiduciary investment company may acquire, purchase or redeem its own stock and\nshall, by means of contract or by its bylaws, bind it self to acquire, purchase or\nredeem its own stock, but it shall not vote shares of its own stock theretofore\nredeemed.\n(2) A fiduciary investment company shall not be responsible for ascertaining the\ninvestment powers of any fiduciary who may purchase its  stock and shall not be\nliable for accepting funds from a fiduciary in violation of restrictions of the will,\ntrust indenture or other instrument under which such fiduciary is acting in absence\nof actual knowledge of such violation, and shall be accountabl e only to the\nsupervisory agency and the fiduciaries who are the owners of its stock.\n(3) Every fiduciary investment company having a national bank as investment adviser\nshall comply with all applicable rules and regulations of the comptroller of the\ncurrency.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35950","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:16Z","sha256":"a9b16c02a114a3a7d77b6cb4c04796aeae683de8e2fd1097c41d100f57a2ebdc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.550","next":"us-ky/krs-386.570"},"notice":"GroundRules: Original legal text. Not legal advice."}