§560:2-605 - Increase in securities; accessions.
§560:2-605 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 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:
(1) 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;
(2) 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
(3) Securities of 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. [L 1996, c 288, pt
of §1]