KRS 386A.4-070: Effect of dissolution of a series.

(1) A dissolved series continues its existence as a series, but may not carry on any

activities except as is appropriate to wind up and liquidate its activities and affairs,

including:

(a) Collecting the assets of or associated with the series;

(b) Disposing o f the assets of or associated with the series that will not be

distributed in kind to beneficial owners associated with the series or the

statutory trust;

(c) Discharging or making provision for discharging the liabilities of or

associated with the series or the assets of or associated therewith, including

entering into new agreements with creditors having claims on assets of or

associated with the series for the satisfaction thereof;

(d) Distributing the remaining property of or associated with the series in

accordance with KRS 386A.4-110; and

(e) Doing every other act necessary to wind up and liquidate the series's activities

and affairs.

(2) Except as otherwise provided in the governing instrument, dissolution of a series

shall not:

(a) Transfer title to the property of or associated with the series;

(b) Prevent transfer of a beneficial interest associated with a series;

(c) Subject its trustees associated with the series to standards of conduct different

from those applicable prior to the dissolution; or

(d) Amend the governing instrument or terminate contribution obligations

existing thereunder.

(3) Dissolution of a series does not:

(a) Prevent the commencement of a proceeding by or against the series in the

series's name;

(b) Abate or suspend a proceedin g by or against the series pending on the

effective date of dissolution;

(c) Transfer title to property of or associated with the series; or

(d) Terminate, as to the series, the authority of the registered agent of the statutory

trust.