{"data":{"id":"us-ky/krs-386a.5-120","jurisdiction":"us-ky","citation":"KRS 386A.5-120","heading":"Independent trustee in registered investment company.","body":"(1) In this section, \"affiliated person\" and \"interested person\" have the meanings set\nforth in the Investment Company Act of 1940, Pub. L. No. 76 -768, as amended, or\nany successor statute and any regulations issued thereunder.\n(2) If a statutory trust is regi stered as an investment company under the Investment\nCompany Act of 1940, Pub. L. No. 76 -768, as amended, or any successor statute\nand any regulations issued thereunder, a trustee is an independent trustee for all\npurposes under this chapter if the trustee is not an interested person of the trust. The\nreceipt of compensation does not affect the status of the trustee as an independent\ntrustee under this section if it is for:\n(a) Service as an independent trustee of the trust; or\n(b) Service as an independent  trustee of one (1) or more other investment\ncompanies managed by a single investment adviser or an affiliated person of\nan investment adviser.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40386","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"1c13262a23504dd7ef73b431288e386b255b1421ca7f23a49a48058fc7f971a9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.5-110","next":"us-ky/krs-386a.6-010"},"notice":"GroundRules: Original legal text. Not legal advice."}