Idaho Code
Part 6 - RULES OF CONSTRUCTION
Section 15-2-607 - CHANGE IN SECURITIES — ACCESSIONS — NONADEMPTION.

15-2-607. CHANGE IN SECURITIES — ACCESSIONS — NONADEMPTION. (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 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 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) of this section are not part of the specific devise.

History:
[I.C., sec. 15-2-607, as added by 1971, ch. 111, sec. 1, p. 233.]

Structure Idaho Code