KRS 386A.6-090: Liability for unlawful transactions.

(1) A trustee who votes for or assents to a distribution made in violation of KRS

386A.6-080 shall be personally liable to the statutory trust for the amount of the

distribution that exceeds what could have been distributed without violating KRS

386A.6-080 if it is established that the trustee did not perform his or her duties in

compliance with KRS 386A.5 -050. In any proceeding commenced under this

section, a trustee shall have all of the defenses ordinarily available to a trustee.

(2) A trustee held liable under subsection (1) of this section for an unlawful distribution

shall be entitled to contribution:

(a) From every other trustee who could be held liable under subsection (1) of this

section for the unlawful distribution; and

(b) From each beneficial owner for the amount the beneficial owner accepted

knowing the distribution was made in violation of KRS 386A.6-080.

(3) A proceeding under this section shall be barred unless it is commenced within two

(2) years after the date on which the effect of the distrib ution was measured under

KRS 386A.6-080(6) and (7).