18-C §2-911. Disclaimer of power held in fiduciary capacity
§2-911. Disclaimer of power held in fiduciary capacity 1. Disclaimer of unexercised power. If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, […]
18-C §2-912. Delivery or filing
§2-912. Delivery or filing 1. Beneficiary designation. As used in this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of: A. An annuity or insurance policy; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] B. An account […]
18-C §2-913. When disclaimer barred or limited
§2-913. When disclaimer barred or limited 1. Bar pursuant to written waiver. A disclaimer is barred by a written waiver of the right to disclaim. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2. Bar pursuant to events. A disclaimer of an interest in property is […]
18-C §2-914. Tax qualified disclaimer
§2-914. Tax qualified disclaimer Notwithstanding any other provision of this Part, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated, pursuant to the provisions of 26 United States Code, as amended, or any successor statute, and the regulations promulgated thereunder, as never having been transferred to the disclaimant, […]
18-C §2-915. Recording of disclaimer
§2-915. Recording of disclaimer If an instrument transferring an interest in or power over property subject to a disclaimer is required or permitted by law to be filed, recorded or registered, the disclaimer may be so filed, recorded or registered. Except as otherwise provided in section 2-912, subsection 7, paragraph B, failure to file, record […]
18-C §2-916. Application to existing relationships
§2-916. Application to existing relationships Except as otherwise provided in section 2-913, an interest in or power over property existing on September 1, 2019 as to which the time for delivering or filing a disclaimer under law superseded by this Part has not expired may be disclaimed after September 1, 2019. [PL 2019, c. […]
18-C §2-703. Choice of law as to meaning and effect of governing instrument
§2-703. Choice of law as to meaning and effect of governing instrument The meaning and legal effect of a governing instrument is determined by the local law of the state selected in the governing instrument, unless the application of that law is contrary to the provisions relating to the elective share described in Part 2, […]
18-C §2-901. Short title
§2-901. Short title This Part may be known and cited as “the Uniform Disclaimer of Property Interests Act.” [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, […]
18-C §2-704. Power of appointment; compliance with specific reference requirement
§2-704. Power of appointment; compliance with specific reference requirement A powerholder’s substantial compliance with a formal requirement of appointment imposed in a governing instrument by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if: [PL 2017, c. 402, Pt. […]
18-C §2-705. Class gifts construed to accord with intestate succession; exceptions
§2-705. Class gifts construed to accord with intestate succession; exceptions 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. “Distribution date” means the date when an immediate or postponed class gift takes effect in possession or enjoyment. [PL 2017, c. 402, Pt. […]