Unless the instrument creating a trust forbids, a fiduciary may do all of the things that an individual holder might do with respect to securities held by the fiduciary, including the exercise or sale of subscription rights, the acceptance of new stock in the same corporation in place of the stock held, or in the event of reorganization, sale, or merger in a different corporation, and with the approval of the probate court, the investment of additional funds if required of all shareholders participating in a reorganization.
Amended by 129th General AssemblyFile No.52, SB 124, ยง1, eff. 1/13/2012.
Effective Date: 10-01-1953
Section: Previous 2109.36 2109.361 2109.37 2109.371 2109.372 2109.38 2109.39 2109.40 2109.41 2109.42 2109.43 2109.44 2109.45 2109.46 2109.47 NextLast modified: October 10, 2016