Sec. 1308. Rules of classification.
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/il/chapter-760/act-3/1308A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1308. Rules of classification.
(a)In this Section, "adverse party" means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
(b)If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(c)If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.