Code of Virginia § 64.2-2713. Requisites for exercise of power of appointment.
75 words·~1 min read·
/va/title-64-2/chapter-27/64-2-2713·A 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 § 64.2-2716 , satisfy the requirements of exercise, if any, imposed by the donor; and
3. To the extent that the appointment is a permissible exercise of the power.
2016, c. 266 .