KRS 386A.8-040: Winding up.

(1) After dissolution, a statutory trust continues its existence as a statutory trust, 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 the trust;

(b) Disposing of the properties of the trust that will not be distributed in kind to

beneficial owners of the trust;

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

including entering into agreements with creditors for the satisfaction thereof;

(d) Distributing the remaining property of the trust in accordance with KRS

386A.8-080; and

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

and affairs.

(2) In winding up a statutory trust's activities, a trust may:

(a) Preserve the trust's activities and property as a going concern for a reasonable

time;

(b) Prosecute, defend, or settle actions or proceedings whether civil, criminal, or

administrative, including by mediation or arbitration; and

(c) Transfer the property of the trust.

(3) The dissolution of a statutory trust does not:

(a) Prevent the commencement of a proceeding by or against the trust in its name;

(b) Abate or suspend a proceeding by or against the trust pending on the effective

date of dissolution;

(c) Transfer title to the trust's property;

(d) Terminate the authority of the registered agent of the statutory trust;

(e) Abate or suspend KRS 386A.3-040; or

(f) Abate or suspend KRS 386A.4-020.