{"data":{"id":"us-ky/krs-386a.8-060","jurisdiction":"us-ky","citation":"KRS 386A.8-060","heading":"Known claims against dissolved trust.","body":"(1) Upon dissolution, a statutory trust may, and a series trust shall, dispose of the\nknown claims against it by following the procedures described in this section.\n(2) The statutory trust shall notify its known claimants, as well as all known claimants\nof any series or against the assets of or associated with a series, in writing of the\ndissolution at any time after the effective date of dissolution. The written notice\nshall:\n(a) Provide the name of the trust and, if a series trust, the name under which each\nseries has transacted business;\n(b) Describe the information that must be included in a claim;\n(c) Provide a mailing address where a claim may be sent;\n(d) State the deadline, which may not be fewer than one hundred twenty (120)\ndays after the date of the w ritten notice, by which the trust must receive the\nclaim; and\n(e) State that the claim against the trust, or in the case of a series trust a claim\nagainst a series or against the property of or associated with a series, will be\nbarred if not received by the deadline.\n(3) A claim shall be barred:\n(a) If a claimant who is given written notice under subsection (2) of this section\ndoes not deliver the claim to the trust by the deadline; or\n(b) If a claimant whose claim was rejected by the trust does not commenc e a\nproceeding to enforce the claim within ninety (90) days after the date of the\nrejection notice.\n(4) For purposes of this section, \"claim\" shall not include a contingent liability or a\nclaim based on an event occurring after the effective date of dissolution.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40411","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"d48fcd74087c328335fc313b82834aa7cbe2296793e0808b6cc1e1247301debc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.8-050","next":"us-ky/krs-386a.8-070"},"notice":"GroundRules: Original legal text. Not legal advice."}