75-2-605 - Increase in securities -- Accessions. - Utah Statutes

75-2-605. Increase in securities -- Accessions.
(1) If a testator executes a will that devises securities and the testator then ownedsecurities that meet the description in the will, the devise includes additional securities owned bythe testator at death to the extent the additional securities were acquired by the testator after thewill was executed as a result of the testator's ownership of the described securities and aresecurities of any of the following types:
(a) securities of the same organization acquired by reason of action initiated by theorganization or any successor, related, or acquiring organization, excluding any acquired byexercise of purchase options;
(b) securities of another organization acquired as a result of a merger, consolidation,reorganization, or other distribution by the organization or any successor, related, or acquiringorganization; or
(c) securities of the same organization acquired as a result of a plan of reinvestment.
(2) Distributions in cash before death with respect to a described security are not part ofthe devise.

Repealed and Re-enacted by Chapter 39, 1998 General Session