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Sec. 13.12.605. Increase in securities; accessions.

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Go back to: Title 13 Decedents’ Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Go back to: Chapter 12. Intestacy, Wills, and Donative Transfers.

Sec. 13.12.605. Increase in securities; accessions.
 (a) If a testator executes a will that devises securities and the testator then owned securities that meet the description in the will, the devise includes additional securities that are owned by the testator at death to the extent the additional securities were acquired by the testator after the will was executed as a result of the testator’s ownership of the described securities and that are securities of
     (1) the same organization acquired by reason of action initiated by the organization or a successor, related, or acquiring organization, excluding securities acquired by exercise of purchase options;

     (2) another organization acquired as a result of a merger, consolidation, reorganization, or other distribution by the organization or a successor, related, or acquiring organization; or

     (3) the same organization acquired as a result of a plan of reinvestment.

 (b) Distributions in cash before death with respect to a described security are not part of the devise.

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