KRS 304.35-060: Savings clause.

All rights and obligations accruing under Chapter 65 of the 1972 Acts or Chapter 359 of

the 1980 Acts are hereby preserved. The plan and association created pursuant to KRS

304.35-010 to 304.35-050 shall become the successors to the plan and association created

pursuant to Chapter 65 of the 1972 Acts or Chapter 359 of the 1980 Acts, and shall

assume all assets and liabilities thereof existing on July 15, 1986, and shall hold all such

surplus assets, after the payment of all such liabilities, as a security fund for the payment

of loss to insured risks or expense of operating said plan and association until either said

security fund is exhausted or the plan and association of any lawful successor thereto is

dissolved.