386A.5-030 Action by trustees. (1) On any matter that is to be acted on by trustees: (a) Each trustee has equal rights in the management and conduct of trust business; and (b) The trustees act by majority of the trustees. (2) The trustees may act other than at a meeting of the trustees if the minimum number of trustees necessary to authorize or to take action at a meeting consent in a signed record. Prompt notice of the action taken must be promptly communicated to all trustees. (3) A trustee may not vote by proxy. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 81, sec. 35, effective July 12, 2012.
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