KRS 386A.8-060: Known claims against dissolved trust.

(1) Upon dissolution, a statutory trust may, and a series trust shall, dispose of the

known claims against it by following the procedures described in this section.

(2) The statutory trust shall notify its known claimants, as well as all known claimants

of any series or against the assets of or associated with a series, in writing of the

dissolution at any time after the effective date of dissolution. The written notice

shall:

(a) Provide the name of the trust and, if a series trust, the name under which each

series has transacted business;

(b) Describe the information that must be included in a claim;

(c) Provide a mailing address where a claim may be sent;

(d) State the deadline, which may not be fewer than one hundred twenty (120)

days after the date of the w ritten notice, by which the trust must receive the

claim; and

(e) State that the claim against the trust, or in the case of a series trust a claim

against a series or against the property of or associated with a series, will be

barred if not received by the deadline.

(3) A claim shall be barred:

(a) If a claimant who is given written notice under subsection (2) of this section

does not deliver the claim to the trust by the deadline; or

(b) If a claimant whose claim was rejected by the trust does not commenc e a

proceeding to enforce the claim within ninety (90) days after the date of the

rejection notice.

(4) For purposes of this section, "claim" shall not include a contingent liability or a

claim based on an event occurring after the effective date of dissolution.