§ 31D-3-314 – Power holder's authority to revoke or amend exercise.
31D-3-314. Power holder’s authority to revoke or amend exercise. If the terms of an instrument creating a power of appointment do not prohibit the power holder from revoking or amending an exercise of the power, a power holder may revoke or amend the exercise of a power only if one of the following apply: (1) […]
§ 31D-4-401 – Disclaimer.
31D-4-401. Disclaimer. Consistent with Chapter 31B of the General Statutes: (1) A power holder may disclaim all or part of a power of appointment. (2) A permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property. (2015-205, s. 3(a).)
§ 31D-4-402 – Authority to release.
31D-4-402. Authority to release. A power holder may release a power of appointment, in whole or in part, except to the extent that the terms of the instrument creating the power prevent the release. (2015-205, s. 3(a).)
§ 31D-4-403 – Method of release.
31D-4-403. Method of release. A power holder of a releasable power of appointment may release the power in whole or in part as follows: (1) By substantial compliance with a method provided in the terms of the instrument creating the power. (2) If the terms of the instrument creating the power do not provide a […]
§ 31D-4-403.1 – Necessity for actual notice of release or limitation to bind fiduciary.
31D-4-403.1. Necessity for actual notice of release or limitation to bind fiduciary. No fiduciary having possession or control of property over which a power of appointment is exercisable shall be bound or affected by any release or limitation of such power without actual notice thereof. (1943, c. 665, s. 4; 2017-102, s. 13(c).)
§ 31D-4-404 – Revocation or amendment of release.
31D-4-404. Revocation or amendment of release. A power holder may revoke or amend a release of a power of appointment only to the extent that one of the following applies: (1) The instrument of release is revocable by the power holder. (2) The power holder reserves a power of revocation or amendment in the instrument […]
§ 31D-4-405 – Power to contract; presently exercisable power of appointment.
31D-4-405. Power to contract; presently exercisable power of appointment. A power holder of a presently exercisable power of appointment may contract: (1) Not to exercise the power. (2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee. (2015-205, s. 3(a).)
§ 31D-3-311 – Disposition of unappointed property under released or unexercised nongeneral power.
31D-3-311. Disposition of unappointed property under released or unexercised nongeneral power. To the extent that a power holder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment: (1) The gift-in-default clause controls the disposition of the unappointed property. (2) If there is no gift-in-default clause, or to the extent that the clause […]
§ 31D-3-312 – Disposition of unappointed property if partial appointment to taker in default.
31D-3-312. Disposition of unappointed property if partial appointment to taker in default. Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the power holder makes a valid partial appointment to a taker in default of appointment, then the taker in default of appointment may share fully […]
§ 31D-3-313 – Appointment to taker in default.
31D-3-313. Appointment to taker in default. If a power holder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, then the power of appointment is deemed not to have been exercised and the appointee takes under […]