§ 15-11-605 — Increase in securities; accessions

(1) 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 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 are securities of any of the following types:

(a) Securities of the same organization acquired by reason of action initiated
by the organization or any successor, related, or acquiring organization, excluding
any acquired by exercise of purchase options;

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

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

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

Legislative History

Source: L. 94: Entire part R&RE, p. 1006, � 3, effective July 1, 1995.