{"data":{"id":"us-ky/krs-386a.8-080","jurisdiction":"us-ky","citation":"KRS 386A.8-080","heading":"Application of assets in winding up.","body":"(1) Upon the winding up of a statutory trust, the assets of the trust shall be distributed\nas follows:\n(a) First, payment or adequate provisions for payment shall be made to creditors,\nincluding, to the extent permitted by law, beneficial owners who are credit ors\nin satisfaction of liabilities of the trust;\n(b) Second, unless otherwise provided in the governing instrument, to beneficial\nowners in satisfaction of liabilities for distributions declared but unpaid; and\n(c) Third, unless otherwise provided in the g overning instrument, to beneficial\nowners in proportion to their respective rights to share in distributions from\nthe trust prior to dissolution.\n(2) Upon the winding up of a series statutory trust, the assets of or associated with a\nseries shall be distributed in accordance with KRS 386A.4-110.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40413","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:18Z","sha256":"7f8f3629cee8130e376ef8bd2e37177f845f18428c98ae4207831029938eb098","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386a.8-070","next":"us-ky/krs-386a.9-010"},"notice":"GroundRules: Original legal text. Not legal advice."}