75A-4-201. Creation of power of appointment.
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Effective 9/1/2024
75A-4-201. Creation of power of appointment.
(1)A power of appointment is created only if:
(a)the instrument creating the power is valid under applicable law; 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)A power of appointment may be created 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.
Renumbered and Amended by Chapter 364 , 2024 General Session