Trustee powers

(1) A trustee may exercise: (a) Powers conferred by the governing instrument; (b) Except as limited by the governing instrument, any other powers necessary or convenient to carry out the business and affairs of the statutory trust; and (c) Other powers conferred by this chapter. (2) Every trustee of a statutory trust, by acceptance of election or appointment as a trustee, including by service, shall be deemed thereby to have consented to the jurisdiction of the courts of the Commonwealth of Kentucky for any action by the statutory trust or a beneficial owner against the trustee.