99.200 Authority to transfer real property to redevelopment corporations. - Kentucky Statutes

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99.200 Authority to transfer real property to redevelopment corporations. Notwithstanding any requirement of law to the contrary or the absence of direct provision
therefor in the instrument under which a fiduciary is acting, every executor, administrator,
trustee, guardian, conservator or any other person holding trust funds or acting in a
fiduciary capacity, unless the instrument under which such fiduciary is acting expressly
forbids, the state, its subdivisions, cities, all other public bodies, all public officers,
corporations organized under or subject to the provisions of the banking law (including
savings banks, savings and loan associations, trust companies, banking corporations), the
commissioner of the Department of Financial Institutions as conservator, liquidator or
rehabilitator of any such person, partnership or corporation, persons, partnerships and
corporations organized under or subject to the provisions of the insurance law, the
commissioner of the Department of Insurance as conservator, liquidator or rehabilitator of
any such person, partnership or corporation, any of which owns or holds any real property
within a development area, may grant, sell, lease or otherwise transfer any such real
property to a redevelopment corporation, and receive and hold any cash, stocks, notes,
mortgages, or other securities or obligations, which they are allowed by law to acquire,
exchanged therefor by such redevelopment corporation, and may execute such
instruments and do such acts as may be deemed necessary or desirable by them or it and
by the redevelopment corporation in connection with the development and the
development plan. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 84, effective July 15, 2010. -- Amended 1982 Ky. Acts ch. 141, sec. 54, effective July 1, 1982. -- Created 1942 Ky. Acts
ch. 36, sec. 12. Note: 1980 Ky. Acts ch. 396, sec. 59 would have amended this section effective July 1, 1982. However, 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141,
sec. 146, also effective July 1, 1982.