Friday, January 27, 2023 12:18:19 AM
Trust and solely for the purpose of liquidating and winding up the affairs of the Plan Trust, the
Trustees shall continue to act as such until their duties have been fully performed. At such time,
to the extent that any funds remain in the Plan Trust that were provided to the Trustees by LBHI
to cover trust expenses, such funds shall be transferred to LBHI in accordance with the Plan.
Upon distribution of all assets of the Plan, which shall not include a distribution of the Plan Trust
Stock to the Beneficiaries, the Trustees shall retain the books, beneficiary lists, registers, records
and files which shall have been delivered to or created by the Trustees.
At the Trustees’discretion, all of such records and documents may be destroyed in accordance with Section 3.3.
3.3 Books and Records. The Trustees shall maintain in respect of the Plan Trust and
the Beneficiaries books and records relating to the assets of the Plan Trust and income of the
Plan Trust and the payment of expenses of, and liabilities of claims against or assumed by, the
Plan Trust in such detail and for such period of time as may be necessary to enable it to make full
and proper accounting in respect thereof. Such books and records shall be maintained as
reasonably necessary to facilitate compliance with the tax reporting requirements of the Plan
Trust.
https://document.epiq11.com/document/getdocumentbycode?docId=1439899&projectCode=LBH&source=DM
Page 635/1005
In our case,left over was donated to charity by the trustee and administrators were hired to take control of the estates and original books and records.hmmmm.
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