{"data":{"id":"us-ky/krs-386a.4-110","jurisdiction":"us-ky","citation":"KRS 386A.4-110","heading":"Application of assets in winding up of series' activities.","body":"Upon the winding up of a series, the assets of or associated with the series shall be\ndistributed as follows:\n(1) First, payment or adequate provisions for payment shall be made to creditors,\nincluding, to the extent permitted by law, beneficial owners who  are creditors, in\nsatisfaction of liabilities of the series or associated with the properties of or\nassociated with the series;\n(2) Second, unless otherwise provided in the governing instrument, to beneficial\nowners in satisfaction of liabilities for distributions declared but unpaid; and\n(3) Third, unless otherwise provided in the governing instrument, to beneficial owners\nin proportion to their respective rights to share in distributions from the series prior\nto dissolution.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40374","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:17Z","sha256":"6e7e07b47b9f2b8a9dd8daadeafcea499af4b499251166f2f38b1678720f1292","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.4-100","next":"us-ky/krs-386a.5-010"},"notice":"GroundRules: Original legal text. Not legal advice."}