{"data":{"id":"us-ky/krs-386a.8-030","jurisdiction":"us-ky","citation":"KRS 386A.8-030","heading":"Judicial dissolution.","body":"(1) The appropriate court may dissolve a statutory trust in a proceeding by a beneficial\nowner if it is established that:\n(a) It is not reasonably practicable to carry on the business of the statutory trust in\nconformity with the governing instrument; or\n(b) The trust has been without a trustee for ninety (90) days and no successor\ntrustee has been appointed or designated in accordance with the governing\nagreement.\n(2) The clerk of the court shall deliver a certified copy of the decree of dissolution to\nthe Secretary of State, who shall file it. The dissolution shall be effective upon the\nlatter of the date specified by the court or the filing of the decree of dissolution by\nthe Secretary of State.\n(3) After entering the decree of dissolution, the appropriate co urt shall direct the\nwinding up and liquidation of the business and affairs of the statutory trust in\naccordance with KRS 386A.8-040 and 386A.8-050 and the notification of claimants\nin accordance with KRS 386A.8-060 and 386A.8-070.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40408","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"ec94531d7e094723a104f3f41956c3a8e212a9af3fd6fdd72f3d7a93ce1047ae","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.8-020","next":"us-ky/krs-386a.8-040"},"notice":"GroundRules: Original legal text. Not legal advice."}