§ 386a-4-090

386A.4 -090 Known claims against dissolved series. (1) Upon dissolution pursuant to KRS 386A.4 -060(1)(b), (c), (d), or (e), a series of a statutory trust shall dispose of the known claims against the property of or associated with it by following the procedures described in this section. (2) The series shall n otify its known claimants in writing of its dissolution at any time after the effective date of dissolution. The written notice shall: (a) Identify the series by such name or names as it used in transacting business and the name of the statutory trust; (b) Describe information that must be included in a claim; (c) Provide a mailing address where a claim may be sent; (d) State the deadline, which may not be fewer than one hundred twenty (120) days after the date of the written notice, by which the series mus t receive the claim; and (e) State that the claim will be barred if not received by the deadline. (3) A claim against a series shall be barred: (a) If a claimant who is given written notice under subsection (2) of this section does not deliver the claim to the series by the deadline; or (b) If a claimant whose claim was rejected by the series does not commence a

is given written notice under subsection (2) of this section does not deliver the claim to the series by the deadline; or (b) If a claimant whose claim was rejected by the series does not commence a proceeding to enforce the claim within ninety (90) days after the date of the rejection notice. (4) For purposes of this section, 'claim' shall not include a contingent liability or a claim based on an event occurring after the effective date of dissolution. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 81, sec. 30, effective July 12, 2012.