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Code · Illinois · Chapter 760 — TRUSTS AND FIDUCIARIES · Act 3

Sec. 1330. Power to contract: power of appointment not presently exercisable.

55 words·~1 min read·/il/chapter-760/act-3/1330

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Sec. 1330. Power to contract: power of appointment not presently exercisable. A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
(1)is also the donor of the power; and
(2)has reserved the power in a revocable trust.
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