386.4420 Laws governing foreign business trust.
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/ky/chapter-386/386-4420A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Subject to the Constitution of this Commonwealth:
(a)Except as provided in subsection
(2)of this section, the laws of the state or
other jurisdiction under which a foreign business trust is organized shall
govern its organization and internal affairs, including the liability of its
trustees and beneficial owners for the debts and obligations of the business
trust and the inspection by a trustee or a beneficial owner of the books and
records of the business trust; and
(b)A foreign business trust shall not be denied registration by reason of any
difference between the laws of another jurisdiction under which a foreign
business trust is organized and the laws of this Commonwealth.
(2)A certificate of authority obtained pursuant to this chapter shall not authorize a
foreign business trust to exercise any powers or engage in any business that a
domestic business trust is forbidden to exercise or engage in by the laws of this
Commonwealth.