{"data":{"id":"us-ky/krs-386a.5-060","jurisdiction":"us-ky","citation":"KRS 386A.5-060","heading":"Good faith reliance.","body":"(1) A trustee, officer, employee, manager, committee of a statutory trust, or other\nperson designated pursuant to KRS 386A.1 -030(4)(h) shall be entitled to rely on\ninformation, opinions, reports, or statements, including financial statements and\nother financial data, if prepared or presented by:\n(a) One (1) or more trustees, employees, or agents of the trust whom the person\nrelying reasonably believes to be reliable and competent in the matters\npresented;\n(b) Legal counsel, public accountants, or other persons as to matters the person\nrelying reasonably believes are within the person's professional or expert\ncompetence; or\n(c) A committee of the trustees of which the relying person is not a member, if\nthe relying person reasonably believes the committee to be re liable and\ncompetent in the matters presented.\n(2) No person shall be considered to be acting reasonably if he or she has knowledge\nconcerning the matter in question that makes reliance otherwise permitted by\nsubsection (1) of this section unwarranted.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40380","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"c44e988ba6ca1182fb2c55687b5656274cb972842b6890f6299eee5cbb4e9be2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.5-050","next":"us-ky/krs-386a.5-070"},"notice":"GroundRules: Original legal text. Not legal advice."}