30-4611. Requisites for exercise of power of appointment.
70 words·~1 min read·
/ne/chapter-30/30-4611A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A power of appointment is exercised only:
(1)if the instrument exercising the power is valid under applicable law;
(2)if the terms of the instrument exercising the power:
(A)manifest the powerholder's intent to exercise the power; and
(B)subject to section 30-4614 , satisfy the requirements of exercise, if any, imposed by the donor; and
(3)to the extent the appointment is a permissible exercise of the power.