Section 556.117 – Naming Appointees by Donees of Powers.
556.117 Naming appointees by donees of powers. Sec. 7. The donee of any power may appoint the whole or any part of the appointive assets to any 1 or more of the permissible appointees and exclude others, except as otherwise provided in the creating instrument. History: 1967, Act 224, Eff. Nov. 2, 1967
Section 556.118 – Release of Powers; Method; Delivery.
556.118 Release of powers; method; delivery. Sec. 8. (1) Unless the creating instrument expressly provides that a power cannot be released or expressly restricts the time, manner or scope of release, all powers may be released except as provided in subsection (2). (2) Unless the creating instrument expressly provides otherwise, a special power may not […]
Section 556.111 – Powers of Appointment Act; Short Title.
556.111 Powers of appointment act; short title. Sec. 1. This act shall be known and may be cited as the “powers of appointment act of 1967”. History: 1967, Act 224, Eff. Nov. 2, 1967
Section 556.112 – Powers of Appointment Act; Definitions.
556.112 Powers of appointment act; definitions. Sec. 2. As used in this act: (a) “Property” means any legal or equitable interest in real or personal property, including choses in action. (b) “Power” means a power of appointment over property. (c) “Power of appointment” means a power created or reserved by a person having property subject […]