Code · Kentucky · Chapter 386 — Administration of trusts -- legal investments -- uniform principal and income act

386.350 Definitions for KRS 386.355 and 386.360.

97 words·~1 min read·/ky/chapter-386/386-350

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

As used in KRS 386.355 and 386.360, unless the context requires otherwise:

(1)"Internal Revenue Code" means the Internal Revenue Code of 1954, in effect on

January 1, 1970, including all appropriate provisions of the Tax Reform Act of

1969 at the dates specified in that law, exclusive of any amendments made

subsequent to December 31, 1969.

(2)"Trust" includes a trust or any other entity (other than a corporation) which has, in

whole or in part, a charitable purpose.

(3)"Trustee" includes any member of the governing body of any trust, as defined in this

section.