Whenever any fiduciary holds shares of the stock of any corporation as assets of the estate in his charge and there is an increase of the capital stock of any such corporation, such fiduciary may, with the consent of the court of probate having jurisdiction of such estate, (1) subscribe for and take the shares of the increased capital stock to which such estate may be entitled or (2) sell and transfer to others the right to subscribe for such shares.
(1949 Rev., S. 7044; P.A. 80-476, S. 188.)
History: P.A. 80-476 substituted “fiduciary” for “executor, administrator, trustee, conservator or guardian” and made other minor changes; Sec. 45-259 transferred to Sec. 45a-205 in 1991.
See Sec. 45a-199 for definition of “fiduciary”.
Annotation to former section 45-259:
Cited. 79 C. 561.
Structure Connecticut General Statutes
Title 45a - Probate Courts and Procedure
Section 45a-199. (Formerly Sec. 45-21a). - “Fiduciary” defined.
Section 45a-200. (Formerly Sec. 45-195b). - Fiduciary certificate effective for one year.
Section 45a-202. (Formerly Sec. 45-21). - When payments by fiduciaries protected.
Section 45a-203. (Formerly Sec. 45-88). - Investment of funds.
Section 45a-204. (Formerly Sec. 45-89). - Investments may be maintained as received.
Section 45a-233. (Formerly Sec. 45-100d). - Construction of statutes in this part.
Section 45a-234. (Formerly Sec. 45-100e). - Powers.
Section 45a-235. (Formerly Sec. 45-100f). - Additional powers.
Section 45a-236. (Formerly Sec. 45-100g). - Short title: Fiduciary Powers Act.
Section 45a-242. (Formerly Sec. 45-263). - Removal, resignation and replacement of fiduciary.
Section 45a-244. (Formerly Sec. 45-265). - Enforcement of delivery of estate to successor.
Section 45a-245. - Removal of fiduciary. Closure for dormancy.
Section 45a-245a. - Successor fiduciary substituted for corporate fiduciary.