Whenever any fiduciary holds shares of the stock of any corporation as assets of the estate in his charge and there is an increase of the capital stock of any such corporation, such fiduciary may, with the consent of the court of probate having jurisdiction of such estate, (1) subscribe for and take the shares of the increased capital stock to which such estate may be entitled or (2) sell and transfer to others the right to subscribe for such shares.
Conn. Gen. Stat. § 45a-205
(Formerly Sec. 45-259). Fiduciary powers re increase in capital stock assets of estate
Known as the Fiduciary Powers Act
The act spans §§ 45a-199 to 45a-246 (25 sections).
(1949 Rev., S. 7044; P.A. 80-476, S. 188.) History: P.A. 80-476 substituted “fiduciary” for “executor, administrator, trustee, conservator or guardian” and made other minor chan…
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.