KRS 386A.7-070: Filings required for merger -- Effective date.

(1) A converted statutory trust shall be for all purposes the same entity that existed

before the conversion.

(2) When a conversion takes effect:

(a) All property and contract rights owned by, and all rights, privileges, and

immunities of the converting organi zation shall remain vested in the

converted statutory trust without assignment, reversion, or impairment;

(b) All obligations of the converting organization shall continue as obligations of

the converted statutory trust;

(c) An action or proceeding pending against the converting organization may be

continued as if the conversion had not occurred, and the name of the

converted statutory trust may be substituted in any pending action or

proceeding for the name of the converting organization; and

(d) The gover ning instrument of the converted statutory trust shall be binding

upon each person who becomes a beneficial owner or trustee of the converted

statutory trust.