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Kentucky Revised Statutes Title XXXIII. Administration of Trusts and Estates of Persons Under Disability § 386A.6-020.Voting or consent by beneficial owners

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The vote of all beneficial owners is required for:

(a) The amendment of the governing instrument;

(b) Compromise of a beneficial owner's obligation to make a contribution to the statutory trust;

(c) The conversion of the statutory trust;

(d) The merger of the statutory trust;

(e) The extension of the term of the statutory trust beyond that provided for in the governing instrument; and

(f) The dissolution of the statutory trust.

(2) Except as provided in subsection (1) of this section, the beneficial owners act by a majority of the beneficial interests.

(3) A beneficial owner may vote in person or by proxy, but if by proxy, the proxy must be contained in a signed record.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXXIII. Administration of Trusts and Estates of Persons Under Disability § 386A.6-020.Voting or consent by beneficial owners - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxxiii-administration-of-trusts-and-estates-of-persons-under-disability/ky-rev-st-sect-386a-6-020/

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