Joint representatives; powers; voting shares of stock
Sec. 11. (a) Where powers possessed by two (2) or more personal
representatives are to be exercised by them jointly, the will of the
majority shall control the manner in which such power shall be
exercised unless the will otherwise provides.
Where the personal representatives, or a majority of them, cannot
agree, or where they are equally divided upon the manner in which
such power shall be exercised, other than in the voting of shares of
stock, the court shall, upon petition filed by any of such personal
representatives or by any party in interest, direct the manner in which
such power shall be exercised, and such power shall be exercised
only in accordance with such direction.
(b) Shares of stock held by personal representatives may be voted
by the personal representatives in such manner as the instrument or
order appointing such personal representatives may direct. In the
absence of such direction or the inability of the personal
representatives to act in accordance therewith, the following
provisions shall apply:
(1) Where shares of stock are held jointly by two (2) or more
personal representatives, such shares shall be voted in accordance
with the will of the majority.
(2) Where the personal representatives or a majority of them
cannot agree, or where they are equally divided upon the question of
voting such shares of stock, the court shall, upon petition filed by any
of such personal representatives or by any party in interest, direct the
voting of such shares as it may deem for the best interest of the
beneficiaries, and such shares shall be voted in accordance with such
direction.
(Formerly: Acts 1953, c.112, s.1011.)
Last modified: May 27, 2006