Md. Code, Est. & Trusts § 4-405

Current with changes from the 2024 Legislative Session

Section 4-405 - Change in securities

Unless a contrary intent is expressly indicated in the will, a specific legacy includes additional or substituted securities if:

(1) Securities are the subject of a specific legacy;

(2) After the execution of the will other securities of the same or another entity are distributed to the testator because of the testator's ownership of the original securities, whether as a result of a partial liquidation, stock dividend, stock split, merger, consolidation, reorganization, recapitalization, redemption, exchange, or other transaction; and

(3) The securities are part of the estate of the testator at the time of the testator's death.

Md. Code, ET § 4-405

Amended by 2019 Md. Laws, Ch. 197,Sec. 1, eff. 10/1/2019.