30-2345. Change in securities; accessions; nonademption.

158 words·~1 min read·/ne/chapter-30/30-2345

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)If the testator intended a specific devise of certain securities rather than the equivalent value thereof, the specific devisee is entitled only to:

(1)as much of the devised securities as is a part of the estate at the time of the testator's death;

(2)any additional or other securities of the same entity owned by the testator by reason of action entered into or initiated by the entity excluding any acquired by exercise of purchase options;

(3)securities of another entity owned by the testator as a result of a merger, consolidation, reorganization or other similar action entered into or initiated by the entity; and

(4)any additional securities of the entity owned by the testator as a result of a plan of reinvestment if it is a regulated investment company.

(b)Distributions prior to death with respect to a specifically devised security not provided for in subsection

(a)are not part of the specific devise.