Kentucky Statutes 386A.8-050 – Supervision of winding up and liquidation
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(1) Subject to KRS § 386A.8-030(3), after dissolution of a statutory trust, the trustee or trustees shall wind up the trust’s activities.
(2) The appropriate court may order judicial supervision of the winding up of a statutory trust, including the appointment of a person to wind up the trust’s activities:
(a) On application of a beneficial owner, if the applicant establishes good cause;
or
(b) In connection with a proceeding under KRS § 386A.8-030.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 81, sec. 68, effective July 12, 2012.
(2) The appropriate court may order judicial supervision of the winding up of a statutory trust, including the appointment of a person to wind up the trust’s activities:
Terms Used In Kentucky Statutes 386A.8-050
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Trustee: A person or institution holding and administering property in trust.
(a) On application of a beneficial owner, if the applicant establishes good cause;
or
(b) In connection with a proceeding under KRS § 386A.8-030.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 81, sec. 68, effective July 12, 2012.