Missouri Revised Statutes

Mo. Rev. Stat. § 474.463 (2026)

Exchange of securities not to adeem specific legacy

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  474.463.  Exchange of securities not to adeem specific legacy. — An exchange of corporate stock, or of bonds, promissory notes or other securities, for other stock, bonds, promissory notes or securities of the same corporation or obligor or its successor does not adeem a specific legacy of the stock, bonds, promissory notes or securities, and the devisee is entitled to those received by the testator in exchange to the extent that they are part of his estate.  A change, by a stock split or like device, in the proportional interest in a corporation represented by a share of its stock, entitles a devisee of a specified number of shares to so many shares as are needed to represent the same proportional interest in the corporation as the specified number represented when the will was executed, whether the devise is specific, general or demonstrative.

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(L. 1980 S.B. 637, A.L. 1981 S.B. 117)

Effective 6-10-81

Notes of Decisions
Cited in 1 case, 2019–2019 · leading case: S.M.S. v. J.B.S., No. ED105760 (Mo. Ct. App. July 30, 2019).
S.M.S. v. J.B.S., No. ED105760 (Mo. Ct. App. July 30, 2019). · cites it 6× “Practice Series section 474.463 (2d ed.) (November 2018 Update) 11 (emphasis added and quotations omitted); see also 3 Treatise on the Law of Corporations section 20:21 (3d) (November 2018 Update) 12 (explaining “[c]apitalization of surplus refers to the accounting transfer from…”
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