{"data":{"id":"us-ky/krs-386a.5-090","jurisdiction":"us-ky","citation":"KRS 386A.5-090","heading":"Indemnification and advancement.","body":"(1) Subject to KRS 386A.1-040(2)(q), a statutory trust may:\n(a) Indemnify and hold harmless a trustee, beneficial owner, or other person with\nrespect to any claim or demand against the person by reason of the person's\nrelationship with the trust; and\n(b) Advance expenses, including reasonable attorney's fees and costs, incurred by\na trustee, beneficial owner, or other person in connection with a claim or\ndemand against the person by reason of the person's relationship to a trust\nbefore the final disposition of the claim or demand, upon an undertaking by or\non behalf of the person to repay the trust if the person is ultimately determined\nnot to be entitled to be indemnified under subsection (1) of this section. The\nterms of the undertaking shall be as set forth i n the governing instrument or as\napproved by the disinterested trustees and shall be in a record.\n(2) The decision to indemnify or advance expenses shall be made by a committee of at\nleast two (2) trustees not at that time parties to the proceeding or by t he beneficial\nowners, but beneficial interests owned by or voted under the control of a trustee\nwho are at the time parties to the proceeding shall not be voted on the\ndetermination.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40383","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"cb730d4bc720f7dc56db8b52d0fa6d9d8c412a61bf7e8d5bb589ad8367b82f43","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.5-080","next":"us-ky/krs-386a.5-100"},"notice":"GroundRules: Original legal text. Not legal advice."}