(a) If an estate by reason of owning securities also owns or receives subscription rights for the purchase of additional securities, the personal representative may exercise the subscription rights after authorization by order of court upon a showing that it is to the advantage of the estate.
(b) To obtain an order under this section, the personal representative or any interested person shall file a petition stating the nature of the subscription rights and the advantage to the estate of exercising them.
(c) Notice of the hearing on the petition shall be given as provided in Section 1220.
(Enacted by Stats. 1990, Ch. 79.)
Last modified: October 25, 2018