Sec. 1307. Exception to presumption of unlimited authority.
69 words·~1 min read·
/il/chapter-760/act-3/1307A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1307. Exception to presumption of unlimited authority. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:
(1)the power is exercisable only at the powerholder's death; and
(2)the permissible appointees of the power are a defined and limited class that does
not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.