2010 Maryland Code
ESTATES AND TRUSTS
TITLE 4 - WILLS
Subtitle 4 - Rules Relating to Legacies
Section 4-405 - Change in securities.
§ 4-405. Change in securities.
Unless a contrary intent is expressly indicated in the will, if securities are the subject of a specific legacy and after the execution of the will other securities of the same or another entity are distributed to the testator because of his 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 if these securities are part of the estate of the testator at his death, the specific legacy includes the additional or substituted securities.
[An. Code 1957, art. 93, § 4-405; 1974, ch. 11, § 2.]
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