KRS 386A.6-020: Voting or consent by beneficial owners.

(1) The vote of all beneficial owners is required for:

(a) The amendment of the governing instrument;

(b) Compromise of a beneficial owner's obligation to make a contribution to the

statutory trust;

(c) The conversion of the statutory trust;

(d) The merger of the statutory trust;

(e) The extension of the term of the statutory trust beyond that provided for in the

governing instrument; and

(f) The dissolution of the statutory trust.

(2) Except as provided in subsection (1) of this section, the beneficial owners act by a

majority of the beneficial interests.

(3) A beneficial owner may vote in person or by proxy, but if by proxy, the proxy must

be contained in a signed record.