Idaho Code § 15-2-607
This is the official text of Idaho Code § 15-2-607, part of Idaho’s Code — part of the compiled statutory law of Idaho, published by the state as "Code." Browse the sections below, each linked to its official government source.
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15-2-607 CHANGE IN SECURITIES — ACCESSIONS — NONADEMPTION.
Official statutory text
PART 6.
RULES OF CONSTRUCTION
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.]
RULES OF CONSTRUCTION
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.]
Status: in_force · Read it on the official government site
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