Kentucky Statutes 394.550 – Stock legacy to include split shares, dividends, and shares issued in merger and exchange
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A legacy of stock, regardless of whether it is construed to be general or specific, shall include:
(1) All stock split shares attributable to the devised shares; (2) All stock dividends attributable to the devised shares;
(3) All shares of stock issued as a result of merger, consolidation, reorganization or other similar action, and attributable to the devised shares; and
(4) All shares of stock issued in exchange for and attributable to the devised shares, received by the testator after execution of the will or by his estate after his death, unless there is in the will or a codicil thereto a manifest intention to the contrary.
History: Created 1972 Ky. Acts ch. 168, sec. 4, effective June 16, 1972.
(1) All stock split shares attributable to the devised shares; (2) All stock dividends attributable to the devised shares;
Terms Used In Kentucky Statutes 394.550
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Legacy: A gift of property made by will.
- Testator: A male person who leaves a will at death.
(3) All shares of stock issued as a result of merger, consolidation, reorganization or other similar action, and attributable to the devised shares; and
(4) All shares of stock issued in exchange for and attributable to the devised shares, received by the testator after execution of the will or by his estate after his death, unless there is in the will or a codicil thereto a manifest intention to the contrary.
History: Created 1972 Ky. Acts ch. 168, sec. 4, effective June 16, 1972.