{"data":{"id":"us-ky/krs-386a.4-010","jurisdiction":"us-ky","citation":"KRS 386A.4-010","heading":"Series.","body":"(1) If a statutory trust complies with KRS 386A.4 -020(2), a governing instrument may\nestablish or provide for the establishment of one (1) or more designated series that:\n(a) Has separate rights, powers, or duties with respect to specified property or\nobligations or profits and losses associated with specified property or\nobligations; or\n(b) Has a separate purpose or investment objective.\n(2) A series of a statutory trust is to the degree provided in subsection (4) of this section\nan entity separate from the statutory trust.\n(3) A series of a statutory trust may have a separate purpose from the trust or any other\nseries thereof if the purpose of the series is:\n(a) Permitted by KRS 386A.3-030; and\n(b) Not outside the purpose of the trust.\n(4) Unless otherwise pro vided in the governing instrument, a series established in\naccordance with subsection (1) of this section shall have the power and capacity to,\nin its own name, contract, hold title to real, personal, and intangible assets, grant\nliens and security interests, and sue and be sued.\n(5) The registered agent and registered office of a statutory trust that is a series trust\nshall be the registered agent and registered office of each series thereof.\n(6) The governing instrument may provide that one (1) or more tr ustees shall be\nassociated with a series, in which case they shall be the trustees discharging the\nobligations of Subchapter 5 of this chapter as to that series. In the absence of such\nan association, all trustees of the statutory trust shall be trustees a ssociated with a\nseries.\n(7) The governing instrument may provide for the means by which beneficial owners\nare associated with a series. The statutory trust may be associated with a series\nthereof. In the absence of association as provided in the governing  instrument, all\nbeneficial owners of the statutory trust shall be deemed associated with each series.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44374","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:17Z","sha256":"bd2f4dcdfab188220ffa89ef0193587b498c33d18617a92d9b29e30bf5cc75bf","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.3-060","next":"us-ky/krs-386a.4-020"},"notice":"GroundRules: Original legal text. Not legal advice."}