(1) Any person appointed committee for an incompetent person prior to July 1, 1982, shall assume the duties of a guardian and shall be subject to all of the provisions of KRS 387.500 to 387.770 pertaining to guardians, including all reporting requirements. The committee shall, within one (1) year from July 1, 1982, petition for modification of the original order if a less restrictive guardianship or conservatorship would be more appropriate.
(2) In all instances where an adjudication of incompetency was entered prior to July 1, 1982, and no committee has been appointed or is serving on that date, the adjudication of incompetency shall be considered null and void if no guardian or conservator is appointed within one (1) year of July 1, 1982.