390.050 Creation of power of appointment.

130 words·~1 min read·/ky/chapter-390/390-050

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)A power of appointment is created only if:

(a)The instrument creating the power:

1. Is valid under applicable law; and

2. Except as otherwise provided in subsection

(2)of this section, transfers

the appointive property; and

(b)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.

(2)Subsection (1)(a)2. of this section does not apply to the creation of a power of

appointment by the exercise of a power of appointment.

(3)A power of appointment may not be created in a deceased individual.

(4)Subject to an applicable rule against perpetuities, a power of appointment may be

created in an unborn or unascertained powerholder.