Section 305 – Permissible appointment.
Effective 5/14/2019 75-10-305. Permissible appointment. (1) A powerholder of a general power of appointment that permits appointment to the powerholder or the powerholder’s estate may make any appointment, including an appointment in trust or creating a new power of appointment, that the powerholder could make in disposing of the powerholder’s own property. (2) A powerholder […]
Section 103 – Governing law.
Effective 5/9/2017 75-10-103. Governing law. (1) Unless the terms of the instrument creating a power of appointment manifest a contrary intent: (a) the creation, revocation, amendment, interpretation and definition of terms, or the determination of the rights of the appointee of the power is governed by the law of the donor’s domicile at the relevant […]
Section 104 – Common law and principles of equity.
Effective 5/9/2017 75-10-104. Common law and principles of equity. The common law and principles of equity supplement this chapter, except to the extent modified by this chapter or laws of this state other than this chapter. Enacted by Chapter 125, 2017 General Session
Section 201 – Creation of power of appointment.
Effective 5/8/2018 75-10-201. 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 […]
Section 202 – Nontransferability.
Effective 5/9/2017 75-10-202. Nontransferability. A powerholder may not transfer a power of appointment. If a powerholder dies without exercising or releasing a power, the power lapses. Enacted by Chapter 125, 2017 General Session