KRS 272A.12-100: Court proceedings.

(1) Upon application by a dissolved limited cooperative association that has published a

notice under KRS 272A.12 -090, the appropriate court may determine the amount

and form of security to be provided for payment of claims against the association

that are con tingent, have not been made known to the association, or are based on

an event occurring after the effective date of dissolution but that, based on the facts

known to the association, are reasonably anticipated to arise after the effective date

of dissolution.

(2) Not later than ten (10) days after filing an application under subsection (1) of this

section, a dissolved limited cooperative association shall give notice of the

proceeding to each known claimant holding a contingent claim.

(3) The court may app oint a guardian ad litem in a proceeding brought under this

section to represent all claimants whose identities are unknown, including those

whose claims are contingent or based upon an event occurring after the effective

date of dissolution. The dissolved limited cooperative association shall pay

reasonable fees and expenses of the representative, including all reasonable attorney

and expert witness fees.

(4) Provision by the dissolved limited cooperative association for security in the

amount and the form ordered by the court satisfies the association's obligations with

respect to claims that are contingent, have not been made known to the association,

or are based on an event occurring after the effective date of dissolution, and the

claims may not be enforced against a member that received a distribution.