Kentucky Statutes 386.520 – Formation of company — Approval — Regulations
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Four (4) or more trust institutions may cause a fiduciary investment company or companies to be organized and incorporated, but no trust institution or foreign trust institution may own an interest in more than seven (7) fiduciary investment companies. A fiduciary investment company shall not begin business except to select an investment advisor, until it is approved by the appropriate supervisory agency. A fiduciary investment company shall be subject to such regulations as its supervisory agency may from time to time prescribe.
History: Created 1974 Ky. Acts ch. 300, sec. 3.
History: Created 1974 Ky. Acts ch. 300, sec. 3.
Terms Used In Kentucky Statutes 386.520
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Fiduciary: A trustee, executor, or administrator.
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010