Md. Code Ann., Est. & Trusts § 4-405

Redline — January 1, 2019 → current.View current text →

Current — January 1, 2020

As of January 1, 2019

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;

~~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.~~

(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.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.