Kentucky Statutes 395.005 – Who may be appointed as fiduciary
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The following persons may be appointed as fiduciary:
(1) Any resident of the state of Kentucky, over eighteen (18) years of age, except as set out in KRS § 395.080, and any national bank located in Kentucky having fiduciary powers and any state bank or trust company incorporated under the laws of the state of Kentucky and authorized by law to act as fiduciary;
(2) To the extent permitted pursuant to KRS § 286.3-146 and KRS § 286.3-920(6) any bank or trust company organized under the laws of a state other than Kentucky; and
(3) Any nonresident of legal age who is as to the decedent, ward, or incompetent, related by consanguinity, marriage, adoption or the spouse of such person so related.
Effective: June 8, 2011
History: Amended 2011 Ky. Acts ch. 67, sec. 1, effective June 8, 2011. — Amended
1980 Ky. Acts ch. 259, sec. 19, effective July 15, 1980. — Amended 1970 Ky. Acts ch. 29, sec. 1. — Amended 1968 Ky. Acts ch. 100, sec. 10. — Created 1942 Ky. Acts ch. 167, sec. 2.
(1) Any resident of the state of Kentucky, over eighteen (18) years of age, except as set out in KRS § 395.080, and any national bank located in Kentucky having fiduciary powers and any state bank or trust company incorporated under the laws of the state of Kentucky and authorized by law to act as fiduciary;
Terms Used In Kentucky Statutes 395.005
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- fiduciary: as used in this chapter :
(1) Means any person, association, or corporation meeting the requirements of KRS
395. See Kentucky Statutes 395.001 - National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) To the extent permitted pursuant to KRS § 286.3-146 and KRS § 286.3-920(6) any bank or trust company organized under the laws of a state other than Kentucky; and
(3) Any nonresident of legal age who is as to the decedent, ward, or incompetent, related by consanguinity, marriage, adoption or the spouse of such person so related.
Effective: June 8, 2011
History: Amended 2011 Ky. Acts ch. 67, sec. 1, effective June 8, 2011. — Amended
1980 Ky. Acts ch. 259, sec. 19, effective July 15, 1980. — Amended 1970 Ky. Acts ch. 29, sec. 1. — Amended 1968 Ky. Acts ch. 100, sec. 10. — Created 1942 Ky. Acts ch. 167, sec. 2.