{"data":{"id":"us-ky/krs-386b.7-040","jurisdiction":"us-ky","citation":"KRS 386B.7-040","heading":"Vacancy in trusteeship -- Appointment of successor.","body":"(1) A vacancy in a trusteeship occurs if:\n(a) A person designated as trustee rejects the trusteeship;\n(b) A person designated as trustee cannot be identified or does not exist;\n(c) A trustee resigns;\n(d) A trustee is disqualified or removed;\n(e) A trustee dies; or\n(f) A guardian, conservator, or curator is appointed for an individual serving as\ntrustee.\n(2) If one (1) or more cotrustees remain in office, a vacancy in a trusteeship need not be\nfilled. A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.\n(3) A vacancy in a trusteeship of a noncharitable trust that is required to be filled shall\nbe filled in the following order of priority:\n(a) By a person designated in the terms of the trust to act as successor trustee;\n(b) By a person appointed by unanimous agreement of the qualified beneficiaries;\nor\n(c) By a person appointed by the court.\n(4) A vacancy in a trusteeship of a charitable trust that is required to be filled shall be\nfilled in the following order of priority:\n(a) By a person designated in the terms of the trust to act as successor trustee;\n(b) By a person selected by the charitable organizations expressly designated to\nreceive distributions under the terms of the trust if the Attorney General\nconcurs in the selection; or\n(c) By a person appointed by the court.\n(5) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court\nmay appoint an additional trustee or special fiduciary if the court considers the\nappointment necessary for the administration of the trust.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43116","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:19Z","sha256":"8f429aad5cf59f838bba63e96fedebd109ed765e51f4e9e3af936565b977f1d8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.7-030","next":"us-ky/krs-386b.7-050"},"notice":"GroundRules: Original legal text. Not legal advice."}