30-4605. Creation of power of appointment.
130 words·~1 min read·
/ne/chapter-30/30-4605A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A power of appointment is created only if:
(1)the instrument creating the power:
(A)is valid under applicable law; and
(B)except as otherwise provided in subsection
(b)of this section, transfers the appointive property; and
(2)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.
(b)Subdivision (a)(1)(B) of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(c)A power of appointment may not be created in a deceased individual.
(d)Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.