Section 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 exercisable in favor of a permissible appointee.

• (2) A power of appointment may be created by the exercise of a power of appointment.

• (3) A power of appointment may not be created in a deceased individual.

• (4) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.

Amended by Chapter 244, 2018 General Session