Article on the Kentucky Uniform Statutory Act of 2012

Thomas E. Rutledge (Stoll Keenon Ogden PLLC) recentlypublished an article entitled, TheKentucky Uniform Statutory Trust Act (2012): A Review, 40 N. Ky. L. Rev. 93(2013).  Provided below is the beginningof his article: 

As a further component of the continuing effort to insure that Kentuckyhas the most up-to-date business entity statutes, the 2012 General Assemblyapproved an enactment of the Uniform Statutory Trust Entity Act (USTA), aproduct of the National Conference of Commissioners of Uniform State Laws(NCCUSL) approved by that body in 2009. 

Withthis enactment, Kentucky moves to the forefront of states having modernstatutory trust laws, it being the first state to enact the USTA. Still, evenas the overall structure of USTA has been adopted in Kentucky, significantdepartures from the Uniform Act have been incorporated into the Kentucky law(KyUSTA). These departures have been dictated by either the desire for greaterspecificity in the wording employed, by the need to conform to the KentuckyBusiness Entity Filing Act (KyBEFA) or, in several instances, substantivepolicy determinations at odds with those made by NCCUSL.