{"data":{"id":"us-ky/krs-386a.4-070","jurisdiction":"us-ky","citation":"KRS 386A.4-070","heading":"Effect of dissolution of a series.","body":"(1) A dissolved series continues its existence as a series, but may not carry on any\nactivities except as is appropriate to wind up and liquidate its activities and affairs,\nincluding:\n(a) Collecting the assets of or associated with the series;\n(b) Disposing o f the assets of or associated with the series that will not be\ndistributed in kind to beneficial owners associated with the series or the\nstatutory trust;\n(c) Discharging or making provision for discharging the liabilities of or\nassociated with the series or the assets of or associated therewith, including\nentering into new agreements with creditors having claims on assets of or\nassociated with the series for the satisfaction thereof;\n(d) Distributing the remaining property of or associated with the series in\naccordance with KRS 386A.4-110; and\n(e) Doing every other act necessary to wind up and liquidate the series's activities\nand affairs.\n(2) Except as otherwise provided in the governing instrument, dissolution of a series\nshall not:\n(a) Transfer title to the property of or associated with the series;\n(b) Prevent transfer of a beneficial interest associated with a series;\n(c) Subject its trustees associated with the series to standards of conduct different\nfrom those applicable prior to the dissolution; or\n(d) Amend the governing instrument or terminate contribution obligations\nexisting thereunder.\n(3) Dissolution of a series does not:\n(a) Prevent the commencement of a proceeding by or against the series in the\nseries's name;\n(b) Abate or suspend a proceedin g by or against the series pending on the\neffective date of dissolution;\n(c) Transfer title to property of or associated with the series; or\n(d) Terminate, as to the series, the authority of the registered agent of the statutory\ntrust.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40370","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:17Z","sha256":"49c14338d70f66976d1acbce893ac32054b5963814fd592a756b7b9c31015c7b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.4-060","next":"us-ky/krs-386a.4-080"},"notice":"GroundRules: Original legal text. Not legal advice."}