Sec. 1304. Creation of power of appointment.
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/il/chapter-760/act-3/1304A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1304. Creation of power of appointment.
(a)A power of appointment is created only if:
(1)the instrument creating the power:
(A)is valid under applicable law; and
(B)except as otherwise provided in subsection (b), transfers the appointive
property; and
(2)the terms of the instrument creating the power manifest the donor's intent to
create, in a powerholder, a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(b)Subdivision (a)(1)(B) does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(c)A power of appointment may not be created in a deceased individual.
(d)Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.