Section 386.4420 - Laws governing foreign business trust(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.Effective:7/15/2010
Repealed and reenacted 2010, Ky. Acts ch. 51, sec. 26, effective7/15/2010. -- Created 2007, Ky. Acts ch. 137, sec. 26, effective 6/26/2007.