72-7-201. Creation of power of appointment.
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72-7-201 . Creation of power of appointment.
(1)A power of appointment is created only if:
(a)the instrument creating the power:
(i)is valid under applicable law; and
(ii)except as otherwise provided in subsection (2), 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)(ii) 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.