Participation in reorganization. A fiduciary may:
1. Unite with other owners of property similar to any which may be held at any time in the decedent’s estate or in any trusts in carrying out any plan for the consolidation or merger, dissolution or liquidation, foreclosure, lease or sale of the property, incorporation or reincorporation, reorganization or readjustment of the capital or financial structure of any corporation, company or association the securities of which may form any portion of an estate or trust;
2. Become and serve as a member of a stockholders or bondholders protective committee;
3. Deposit securities in accordance with any plan agreed upon;
4. Pay any assessments, expenses or sums of money that may be required for the protection or furtherance of the interest of the distributees of an estate or beneficiaries of any trust with reference to any such plan; and
5. Receive as investments of any estate or any trust any securities issued as a result of the execution of such plan.
Last modified: February 25, 2006