1. A. If a testator executes a will that devises securities and the testator then owned securities that meet the description in the will, the devise includes additional securities owned by the testator at death to the extent the additional securities were acquired by the testator after the will was executed as a result of the testator's ownership of the described securities and are securities of any of the following types:

   1. (1) securities of the same organization acquired by reason of action initiated by the organization or any successor, related or acquiring organization, excluding any acquired by exercise of purchase options;
   2. (2) securities of another organization acquired as a result of merger, consolidation, reorganization or other distribution by the organization or any successor, related or acquiring organization; or
   3. (3) securities of the same organization acquired as a result of a plan of reinvestment.
2. B. Distributions in cash before death with respect to a described security are not part of the devise.

History: 1953 Comp., § 32A-2-605, enacted by Laws 1975, ch. 257, § 2-605; 1976 (S.S.), ch. 37, § 4; repealed and reenacted by Laws 1993, ch. 174, § 44.

ANNOTATIONS

Official comments. — See Commissioners on Uniform State Law official comment to 2-605 UPC.

Repeals and reenactments. — Laws 1993, ch. 174, § 44 repealed former 45-2-605 NMSA 1978, as enacted by Laws 1975, ch. 257, § 2-605, relating to anti-lapse and deceased devisee, and enacted a new section, effective July 1, 1993.