Sec. 45a-205. (Formerly Sec. 45-259). Fiduciary powers re increase in capital stock assets of estate.

Whenever any fiduciary holds shares of the stock of any corporation as assets of the estate in his charge and there is an increase of the capital stock of any such corporation, such fiduciary may, with the consent of the court of probate having jurisdiction of such estate, (1) subscribe for and take the shares of the increased capital stock to which such estate may be entitled or (2) sell and transfer to others the right to subscribe for such shares.

(1949 Rev., S. 7044; P.A. 80-476, S. 188.)

History: P.A. 80-476 substituted “fiduciary” for “executor, administrator, trustee, conservator or guardian” and made other minor changes; Sec. 45-259 transferred to Sec. 45a-205 in 1991.

Notation

See Sec. 45a-199 for definition of “fiduciary”.

Annotation to former section 45-259:

Cited. 79 C. 561.