Section 386A.3-020 - Statutory trust as entity(1) A statutory trust is a legal entity distinct from its trustees and beneficial owners.(2) A statutory trust may hold or take title to property in its own name, or in the name of a trustee in the trustee's capacity as trustee, whether in an active, passive, or custodial capacity.(3) Property transferred to or otherwise acquired by a statutory trust shall be the property of the trust and not of the beneficial owners or of the trustees. A creditor of a beneficial owner or trustee may not obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of a statutory trust or the property of or associated with any series thereof.(4) The property of a statutory trust is not subject to KRS 381.135(1)(a) 1.Added by 2012 Ky. Acts ch. 81,§ 17, eff. 7/11/2012.